According to an announcement from the NMPA, thanks to the resolution, "music publishers will have the opportunity to enter into a license agreement with YouTube and receive royalties from YouTube for musical works in videos posted on the site. "
The Harry Fox Agency (HFA) will administer the licensing agreement, which will cover synchronization rights for music in user-generated videos. The YouTube licensing agreement will be available to all music publishers regardless of affiliation. Royalty payments apparently will be calculated against global advertising revenue derived against user-generated videos using music.
A press release from the NMPA said additional information about the licensing opportunity will be posted on the NMPA and HFA web sites and sent to music publishers in the coming weeks.
The NMPA jointed litigation claims filed against YouTube in 2007, but a U.S. District court filed a summary judgment in favor of YouTube. The appeal is still pending, but as part of the resolution, the NMPA and music publishers like Edward B. Marks Music Company, Freddy Bienstock Music Company, Alley Music Corporation and The Rodgers & Hammerstein Organization have filed a notice to dismiss their appeal as part of the resolution.
This article was written by Ed Christman and appeared on Billboard Biz 8/17/11.