Teosto and YouTube Reach a Deal For Music
Press release: Finnish music creators, composers and authors to benefit financially from having their videos on YouTube
Helsinki, Finland, 18th October 2013
YouTube and Finnish-based music creators’ rights organization Teosto, representing 27 000 Finnish music authors and publishers, today announced a licensing agreement that will allow Finnish and international music creators, composers and authors to earn revenue in Finland on YouTube.
It allows rightsholders and affiliates represented by Teosto to be paid when their music is accessed on YouTube in Finland. Revenue is generated when advertisements are displayed against YouTube partner’s videos and Fan Picked Videos.
“YouTube is one of the most popular music services in Finland. It’s very important that music creators are now also compensated from YouTube usage in Finland. We feel that streaming services will be an even more important channel for music in the future and this license agreement with YouTube is also in this respect an important milestone”, says Teosto´s CEO Katri Sipilä.
“We are extremely pleased to have reached an agreement with Teosto that enables music artists, composers and authors to receive payments for videos on YouTube in Finland”, says Gudrun Schweppe, Head of Music Publishing at YouTube in EMEA. “It’s also a big win for the YouTube community, to whom listening to music and discovering new local artists on YouTube is an important part of their online experience.”
Throughout Europe, YouTube is succeeding in securing mutually beneficial agreements with associations representing composers and authors and has deals in place with a number of music creators’ rights organizations, including with PRS for Music in the UK, SGAE in Spain, SIAE in Italy, SACEM in France, AKM in Austria and SUISA in Switzerland.
Teosto is a non-profit organisation founded in 1928 by composers and music publishers to administrate and protect their rights. It represents more than 27 000 Finnish and almost three million foreign composers, lyricists, arrangers and music publishers. Teosto´s mission is to enable successful professional music-making in Finland. In 2012, Teosto’s sales revenue amounted to EUR 46.3 million, of which, after deducting expenses, 86.6% is distributed to composers, lyricists, arrangers and publishers.
YouTube is the world’s most popular online video community allowing millions of people to discover, watch and share original videos. YouTube provides a forum for people to connect, inform and inspire others across the globe and acts as a distribution platform for original content creators and advertisers large and small. YouTube, LLC is based in San Bruno, Calif., and is a subsidiary of Google Inc.
Tomi Korhonen, director of Communications and PR
+358 50 4499575
Timo Nurmi, press contact for YouTube in Finland
+358 50 3493597