Music videos pulled from YouTube in U.K.

Video site fails to reach agreement with rights society

DENVER -- Music videos on YouTube in the U.K. will be silenced after negotiations between the Google-owned service and the countries' Performing Right Society failed to agree on new rates.

Both YouTube and the PRS issued statements outlining their respective sides. Google shot first, saying the PRS was asking for "many, many times more" for licensing fees than before.

"The costs are simply prohibitive for us," it read. "Under PRS' proposed terms, we would lose significant amounts of money with every playback."

The company also said the PRS would not detail which artists would be covered by the license. The PRS collects royalties for some 50,000 songwriters.

The industry shot back, implying Google is just being greedy.

"Google has told us they are taking this step because they wish to pay significantly less than at present to the writers of the music on which their service relies, despite the massive increase in YouTube viewing," the statement read.

YouTube is expected to remove all music videos immediately.