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Vevo accused of failing to pay independent publishers
Independent publishers and songwriters are not receiving money for content streamed on Vevo’s online video site because of a clause in the firm’s licensing deals with record labels, according to a report in The Wrap. The comments come on the back of reports that Vevo made USD150m in revenues last year, results that have been hailed as a sign of growth in the stricken music industry. Now accounting for 40% of content streamed on YouTube, Vevo claims that it has paid USD200m to copyright holders over the last two years. It now seems that record labels are not passing on the payments to independents that they represent.
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