EMI enters content agreement with YouTube

EMI Music has reached an agreement with Google 's YouTube that lets the web site carry music videos and other content from EMI artists and clears the way for users to post videos with select EMI content, an Associated Press report said.

The Associated Press report said with the deal, YouTube now has permission to host videos from all four of the world's major recording companies.

YouTube reached agreements with the other music labels in October, but Britain-based EMI had been the lone holdout, the report said.

Financial terms of the deal were not disclosed, the report added.

The Associated Press report further quoted Chris Maxcy, head of business development for YouTube.as saying that EMI Music will receive a cut of revenue from ads shown on YouTube when EMI content is being viewed.

Previous deals struck by the company with other record labels and TV networks have also included ad revenue-sharing, the report said.

Under the terms of the agreement, EMI will make its artists' music videos available on the site, the report added.

Computer users will also be allowed to use content from select EMI artists in videos they create and post on the site, the report further said.