60% of Israelis logging on to youtube watch music videos, which have become popular in mainstream culture but until now, there was no revenue for Israeli content makers.
With the new deal, artists will receive royalties from youtube ad revenue and pave the way for an additional revenue stream that rewards unique content.
ACUM, Israel's non-profit corporation for administering rights, signed the agreement with youtube which allows them to produce reports from original work on the site, and award royalty payments.
Prior to signing the agreement with us, YouTube had no income-generating system in place. Now that we signed the agreement, YouTube can run advertisements and for the first time generate income from displaying the material on its website, said ACUM Director General Yorik Ben-David. - Jerusalempost
As youtube has become the biggest site for video in the world, it is only a matter of time before most countries will have a royalty agreement with the site, in order to protect and reward the efforts of independent filmmakers, musicians and bloggers.
Useful links
Israel s ACUM literary rights society (Hebrew)
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