This deal is great news for creators
It’s awesome that these two came together without some court ordering one side to do so. The deal is unprecedented because it’s voluntary. This licensing deal will allow ASCAP to share its more than 10.5 million musical works to be combined with YouTube’s data exchange, resulting in bigger payouts.
ASCAP’s CEO, Elizabeth Matthews, explained to Billboard the new multiyear deal between the two “substantially increases the aggregate amount of revenue” ASCAP will collect from YouTube. In addition, the deal will potentially boost revenue further with data that can help YouTube’s content ID system identify more of the musical works under ASCAP.
The deal is also retroactive tracing back to when YouTube started its interim license back in 2013. So, if you have music made between that time, you may want to look into some cash from ASCAP.
It’s good to see ASCAP finally taking the steps BMI took with YouTube already in an effort to better compensate music creators.
For more about the deal, hit up Billboard here.