YouTube Wants Their MTVAugust 23, 2006
American company YouTube started talks with all major music labels to host thousands of music videos on its popular service. The site is currently a favourite with internet users that share their videos with millions of other users. However YouTube is looking to become a provider of more mainstream content like some of their competitors iTunes, AOL Music or Yahoo.
“What we really want to do is in six to 12 months, maybe 18 months, to have every music video ever created up on YouTube,” co-founder Steve Chen told Reuters. “We’re trying to bring in as much of this content as we can on to the site. Yahoo Launch is almost an exact parallel of MTV but viewed through a web browser,” Chen said. “We add the whole user community feel, with 100 million views every day and user-generated content.” There are plans in place to integrate music videos into the community features of the site, allowing users to add the videos to their own profiles and post reviews.
There have been piracy concerns about video files hosted on YouTube in the past, including some clips from NBC’s “Saturday Night Live”, but the company declared that they want to ban all illegal content and that having record labels adding their full video catalogues is the right step in the right direction. “Right now we’re trying to very quickly determine how and what the model is to distribute this content and we’re very aggressive in assisting the labels in trying to get the content on to YouTube.” Chen added.
The executive was not specific as to what labels are studying YouTube’s business model – that aims to have totally free videos for the user – but Reuters confirmed that at least Warner Music and EMI have opened discussions with the company. “We’re obviously interested in legitimate use scenarios and trying to broaden those, and our focus with YouTube is how to be partners while protecting our artists and ensuring they get paid,” said Michael Nash, senior vice-president of digital and business development at Warner Music.