Bloomberg.com is reporting that Warner Music Group (WMG)– whose roster includes such big name rappers as T.I., Lupe Fiasco and Plies – has removed videos from their entire catalog from YouTube after both companies failed to reach an agreement on royalties.
Back in September of ‘06 Warner made a deal with the popular video-sharing site to share revenues from ads and royalties but after renegotiations failed over the weekend, WMG said they will take down all videos and songs from their artists, as well as content from those signed to their publishing branch.
“We simply cannot accept terms that fail to appropriately and fairly compensate recording artists, songwriters, labels and publishers for the value they provide,” Warner Music said in a statement over the weekend.
Warner is not the only company with problems with YouTube. Universal Music Group, Sony BMG Music Entertainment and EMI Group Ltd. are also in renegotiations with the Google owned site. – Elan Mancini