The National Music Publishers’ Association (NMPA) announced last week that it had struck a deal with YouTube on behalf of independent music publishers. Publishers have from now until January 16 to opt into a direct license agreement with the online video service by going here.
Billboard reported last week that the details of the deal involve, among other things, YouTube advancing $4 million for publishing royalties to cover user-generated YouTube videos that contain published songs. Publishers have to sign up for the YouTube license offer by that January 16 deadline to be considered for any portion of the advance.
Licensing and payments to publishers will be handled by the Harry Fox Agency (HFA) for a 7.5 percent fee. Advances will go out starting August 11, 2012, and end August 11, 2014. Payments will be doled out on a monthly basis with a 1.5 percent penalty if they’re late. Those unaffiliated with HFA will have to show evidence of direct licensing income to file for royalty payments. Billboard also notes that there is no agreement over videos of live performance and suppose there will be negotiation with performance organization groups.