Warner Music Pulls Videos From YouTube

December 21, 2008 2:30 p.m. EST

Miami, FL (AHN) - Warner Music Group ordered all of its videos pulled from the popular video-sharing website, YouTube, after contract negotiations broke down last week.

Warner Music owns the rights to hundreds of thousands of videos, and also the publishing rights for many songs under the company's Warner/Chapell unit, Reuters reported.

There was no amount available that Warner was seeking, but the company wanted more of the potential revenue share YouTube receives due to its very high visitor volume.

"We simply cannot accept the terms that fail to appropriately and fairly compensate recording artists, songwriters, labels and publishers for the value they provide," Warner said in a statement.

YouTube, which is owned by Google, Inc., and Warner signed an agreement in 2006 where Warner would receive some revenue from advertisements on the site and other royalty payments.