The licence covers the use of musical repertoire PRS for Music represents in videos streamed on the video platform, including official music videos and content, live footage, soundtracks and user generated content (UGC).
The deal also includes the rights to a growing catalogue of independent repertoire available through PRS for Music’s independent publisher initiative IMPEL, such as David Bowie (RZO Music), Justin Timberlake (Imagem), Lou Reed (Spirit) and Goldie (Westbury).
The organisation, which represents more than 100,000 songwriters, composers and music publishers, was one of the first societies outside the US to license YouTube, having struck its first deal with the platform in 2007.
The new licence agreement is one of the most extensive yet covering more than 130 territories in Europe, Middle East and North Africa.
Robert Ashcroft, chief executive of PRS for Music, said: ‘Streaming is a key growth area for PRS for Music, helping drive our online revenues to over £50m in 2012. YouTube’s vast reach around the world offers our publishers and songwriters a unique stage and offers music lovers access to millions of songs.
‘I am delighted we have reached such an important multi-territory agreement. The issue of remuneration from streaming services remains a key one for our members and the further evolution of our licensing relationship with YouTube will help ensure continued growth in royalties for our members from one of the world’s leading video platforms.’
Chris Maxcy, director of global music partnerships at YouTube, added: ‘We’re delighted to renew our successful partnership with the PRS for Music. This means the UK’s music publishers, songwriters and composers can continue to reach new and existing fans on YouTube and the passionate YouTube community can keep enjoying listening to music and discovering new artists online.’