Warner Music represents artists such as Gnarls Barkley, REM, Paul Simon, Phil Collins and the Red Hot Chilli Peppers, and the deal could see official videos, interviews and behind-the-scenes footage played on YouTube.
The partnership could also see YouTube users mixing Warner's copyrighted songs into their own uploaded videos without any complaint from the trademark holder.
The two parties have been hammering out the deal for the past four months and finally agreed terms this weekend.
Warner Music and YouTube will share the advertising profits generated by the online content, using an advanced content identification and royalty system that will be in place by the end of the year.
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