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YouTube inks deal over unclaimed royalties

Google Inc.'s YouTube reached a settlement with the National Music Publishers' Association over unclaimed royalties for musical works used in videos on YouTube where ownership was previously unknown, the NMPA said Dec. 8.

While the amount to be paid to the publishers and songwriters was not disclosed, a Dec. 8 report by TheVerge.com estimated it to be between $30 million and $40 million. The payouts will begin in 2017.

Under the deal, music publishers will be able to opt into this agreement during the opt-in period, which opens Dec. 12 until Feb. 28, 2017. YouTube will run a claiming window for three months.

The process will be repeated for future 12-month usage periods starting Jan. 1, 2016, and ending Dec. 31, 2019.

Google is a unit of Alphabet Inc.