YouTube has signed a brand new deal with Sony Music Entertainment to allow music videos from the label’s artists to stay on the website, accomplishing something that YouTube and Warner Music failed to do in a few months back, according to a report on All Things D.
The deal, which extends a previous agreement, has not been formally announced, but it has been finalised. It is unclear what are the final terms are, but according to sources, YouTube will make an upfront payment to Sony. The deal also revolves around the minimum amount that Sony will receive when someone plays a video from their label.
The contract is also expected to see a split-revenue deal generated from advertising on the label’s video.
Universal Music and EMI are still in negotiations; but according to CNET, Universal Music is near renewing a deal with YouTube. If it does sign, EMI is the only one who has not made a decision yet.