Brandon McFarland on Wednesday, Jun. 20th
Universal Music Group and the National Music Publishers’ Association have reached a licensing deal which will allow songwriters and publishers to share in music video revenue. In addition to being one of the most powerful record labels on the planet, UMG is also co-owner of online music video site VEVO.
NMPA CEO David Israelite said in a statement, ”UMG deserves credit for being the first record label to partner with the entire songwriting and music publishing community through this model licensing deal.”
Details of the compensation agreement have yet to surface.