Warner, MTV In Global Mobile Music Video Pact

Warner Music Group and MTV Networks are announcing their “landmark global agreement” now. Turns out WMG is licensing music videos to MTVN for use in original programming. (I have to admit I expected more with that kind of billing.) Effective immediately, MTVN can use audiovisual excerpts from WMG’s catalog in its programming for mobile phones. It’s a first-of-its-kind deal for both companies.
During the conference call, WMG Chairman & CEO Edgar Bronfman, who was quoted here extensively last week about his desire to share in revenues, said of this deal: “In the mobile space, we’ll be building these businesses together; Warner will be sharing in the revenues.” In turn, WMG’s artists have rev share agreements with the label that vary by artist.
Rafat’s take at sister site MocoNews.net.

Related: Goldman Sachs Communacopia: Edgar Bronfman, Jr.