BEIJING, July 22 -- Warner Music Group is still in talks with video sharing site YouTube to license its artists' music videos as negotiations over payment reached an impasse, according to media reports Wednesday. Videos from Warner artists like Madonna and Green Day were removed from YouTube last December after both sides were unable to agree on financial terms for the licensing rights. While talks are still ongoing no imminent announcements are expected. "We are working actively to find a resolution with YouTune that would enable the return of our artists' content to the site," Warner said in a statement. Warner Music, the world's third largest music company, was among the first major music companies to sign a deal with YouTube. As chief executive, Warner Music's Edgar Bronfman is keen to improve terms of his previous deal with YouTube. Warner still makes videos available to MTV, MySpace Music and other sites. YouTube was facing calls from various facets of the music industry in the last year all demanding an increase in licensing fees. At the same time YouTube, which is owned by search giant Google Inc, has been under pressure from Google investors who are keen for the website to start making a meaningful contribution to them. The video sharing site is regarded by music industry insiders as one of the most important music discovery tools for fans. It has more than 100 million visitors every month in the United States alone and is just as popular in many other countries. Sources: Xinhua
