$20 Million In Music Royalties Were Stolen From YouTube
Musicians, publishers, and tape labels brand money from the music they produce through royalties. This means that whenever a song or a snippet of a song is used in a video like a picture show, an advertizing, or played on radio, in the background of a store, or streamed online, an amount is paid for the usage of the song.
Usually, these royalties are paid to the rights holder(s) or to collection agencies, but information technology seems that ii men have taken advantage of the system and take allegedly stolen $20 million worth of royalties from YouTube over the by four years or and so. This is according to courtroom documents which mentions a company referred to equally "Y.T.".
While YouTube wasn't specifically name, Gizmodo notes that the same monetization and content ID mechanisms are used, and then in that location is a good chance that this could indeed be YouTube.
That being said, how this ended up happening was the men reached out to a company called "A.R." who helps "Y.T." with their royalty payments.
The men said they were from a visitor chosen "MediaMuv" (which they setup themselves) who endemic the copyright to a library of over 50,000 songs. They then signed a contract with "A.R." who tagged and uploaded the music which helped them claim the royalties from the songs. For some of the tracks that were tagged as beingness endemic by "MediaMuv", they managed to collect as much every bit $100,000.
IRS agents somewhen caught up to the pair where they were arrested, and if found guilty could face up a cumulative 37 years in prison and up to $250,000 for each felony conviction.
Filed in . Read more almost Entertainment, Legal, Music and YouTube. Source: gizmodo
Source: https://www.ubergizmo.com/2021/12/20-million-music-royalties-stolen-youtube/
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