With the announcement that EMI has partnered with YouTube (GOOG) to show music clips on their Web site, it brings the last of the big four music companies into the YouTube fold.
The music will be monetized through ad sales, which will be split between the artists, EMI and YouTube. "Through this agreement EMI Music and its artists will be fairly compensated," EMI Chief Executive Officer Eric Nicoli said in the statement.
Less than a couple of weeks ago, EMI had agreed to be acquired by Terra Firma Capital Partners LTD., and has been searching for new revenue streams as its cd sales have plummeted. They will work together with Google to figure out better ways to monetize their online music. They recently agreed to sell their music through Apple (AAPL) iTunes without DRM.
Last year the company had a huge net loss of 288.5 million pounds. They hope that YouTube's 106.8 million users around the world will help them to change those numbers around.
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