YouTube on Monday announced the acquisition of copyright management firm RightsFlow, a buyout they hope will provide the video streaming service with better management of licensing and royalty payment services.
RightsFlow works with music labels, artists, music services and distributors to manage music rights in the digital age.
YouTube hopes that the system will allow them to better manage the 48 hours of video uploaded to the service every minute, allowing for better treatment of the company’s creative community.
Writing about the acquisition YouTube Product Manager David King noted:
“By combining RightsFlow’s expertise and technology with YouTube’s platform, we hope to more rapidly and efficiently license music on YouTube, meaning more music for you all to enjoy, and more money for the talented people producing music.”
Speaking of the acquistion on the RightsFlow blog company CEO Patrick Sullivan wrote:
“We’re pleased to now be taking a momentous step with the team at YouTube, that shares in our vision of solving the really challenging problem of copyright management. Combined with the worldwide platform and reach of YouTube, we’ll now be able to drive awareness, adoption, and licensing success to a much larger audience—ultimately benefiting users, artists, labels, songwriters, publishers, and the entire global music ecosystem.”
Both company’s have failed to release financial details about the acquisition at this time.