YouTube, not Warner Music, pulled videos?

Reminds me of NBC’s battle with iTunes, when the drama queens pulled all their shows. A year later, NBC came slinking back… “Please take our shows, which no one is watching…” Sorry NBC, Warner Music, etc., don’t be douchebags. Stop operating in a 1990 business model — doing business is different now. Ask a real estate agent or a travel agent — or a newspaper…

Warner Music Group has been saying since Saturday that it was the one who asked that the label’s videos be removed from YouTube after talks to renegotiate its licensing deal with Google’s video site stalled. That’s not what happened, say two high-level sources with knowledge of the negotiations. YouTube began removing videos from its site after Warner came to YouTube with an “11th-hour demand” for better financial terms, according to the sources. All four of the top recording companies are renegotiating their contracts with YouTube for music and music videos. – from CNET

Warner complains it doesn’t any money from Google, even though videos are extremely popular on YouTube and are major drivers of traffic. According to The New York Times, Warner made $639 million in digital revenues for fiscal year 2008 and of which less than 1 percent (or less than $6.39 million) came from YouTube $6.39 million. Another music labels might soon follow Warner’s suit and try and renegotiate with YouTube or opt out all together. – from GigaOm