Over 1,000 artists have signed a new letter to the European Commission in Brussels, voicing their displeasure at how YouTube royalties are distributed and how the site moderates copyright laws and unauthorized content.
In the letter, they state there’s a “value gap” between consumption and revenue and that current legislation in place is outdated.
“These protections were put in place two decades ago to help develop nascent digital start-ups, but today are being misapplied to corporations that distribute and monetize our works,” the letter reads.
“The value gap undermines the rights and revenues of those who create, invest in and own music, and distorts the market place.”
Some of the artists signing off on the EU letter include Ed Sheeran, Coldplay, Lady Gaga, Gwen Stefani, Bruno Mars and Abba.
They join a growing chorus of music industry players taking on the video-sharing site. Almost 200 artists and songwriters ran an ad in several D.C.-based media publications this week calling for Congress to reform the Digital Millennium Copy Act (DMCA) – a move that was targeted at YouTube.
YouTube, in the meantime, says that it has paid out $3 billion to artists and labels. They are renegotiating new deals with three major labels: Universal, Warner and Sony.