Warners and YouTube failed to come to an agreement that would “appropriately and fairly compensate recording artists, songwriters, labels and publishers for the value they provide”and as a consequence have demanded the withdrawal of their artists from YouTube.
YouTube has always been a great way to promote artists and thereby encourage music sales. My personal experience is a case in point.
I don’t listen to commercial radio. The only music referrals I get are from friends, and from reading magazines. Last Friday a friend rang to suggest we go to see Fleet Foxes in January. I hadn’t heard of them so went straight to YouTube, watched a few tracks and then promptly bought a ticket to the concert, and then on the Saturday a copy of their CD.
Now, that artist just made a stack of money off me just by being on YouTube. For the sake of a few cents per view Warners may have potentially cut off income from the artists they are withdrawing.
Give and you shall receive…it actually works. Warners needs to learn this lesson.