Google Inc.'s YouTube, the most- popular video sharing Web site, struck an agreement with EMI Group Plc to show videos from artists including Coldplay and Fat Boy Slim.
The decision means consumers will be able to watch professionally produced videos as well as user-generated clips featuring EMI music, San Bruno, California-based YouTube said today in an e-mailed statement. YouTube now has partnerships with all four of the biggest music companies. Universal Music Group, Sony BMG Music Entertainment and Warner Music Group Corp. all agreed to work with YouTube before the company was bought by Google for $1.65 billion last year.
EMI, the world's third-largest music label, will work with Google to develop a business model for music videos in user- created content, the companies said. EMI will use YouTube's software for identifying material it owns on the site and asking for clips that breach its copyrights to be removed. Shares of Google rose $9.05, or 1.8 percent, to $507.65 at 11:10 a.m. New York time in Nasdaq Stock Market trading. They had risen 8.3 percent this year through yesterday.
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