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For the past 3-4 days, my phone hasn’t stopped ringing from artists and local labels asking why YouTube is going to be removing their music. For those that haven’t already heard, YouTube (owned by Google) is planning on launching its own subscription music service soon. It has been in negotiations with the 3 major record labels and the independent labels to set a rate for their music used in the new service. The details of these deals has been kept very quiet, but apparently the Big 3 have already signed on, as have most of the independents. Only a small percentage of indies are holding out for better rates.
The big swirl of confusion started a few days ago when the Financial Times website posted a story quoting YouTube exec Robert Kyncl, stating music could start being removed in a couple of days. This sent “the internets” into a frenzy, and is what began my phone ringing.
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