Doug Morris, CEO, Universal Music Group said that YouTube and MySpace are rampantly violating copyright laws by allowing members to post video and other content involving his company’s artists.
Speaking to investors at a conference in Pasadena, Morris said;
We believe these new businesses are copyright infringers and owe us tens of millions of dollars. How we deal with these companies will be revealed shortly.Universal and YouTube had been holding talks over this for sometime now. It appears that the talks have reached a stalemate situation and no agreement has been reached yet.
Mercury News citing sources privy to the talks between Universal and YouTube says that Universal’s is now set to file a copyright infringement lawsuit against YouTube if no agreement is reached by September end.
It would be rather interesting to watch the developments as this tussle builds up. The end results would have long term ramifications on how Web 2.0 firms like YouTube and MySpace do business.
