Have you ever considered a simple method to generate $23 million? It seems absurd, right? I’m going to share some extremely intriguing news with you today. Two Phoenix residents claimed ownership of songs that other people had posted to YouTube and received $23 Million in royalties as payment. One of the “biggest Youtube music royalties scams in history,” according to reports.
Here is what you need to know about Youtube Music Royalty Scam
In essence, two Phoenix guys defrauded Latin music stars like Julio Iglesias and Daddy Yankee of $23 million in royalties. The information about the heist was released by Billboard last week.
A media company called MediaMuv was founded by Medina Teran and Webster Batista, according to Billboard’s Kristin Robinson. It turned out to be a fictitious business that asserted ownership of a number of Latin music tunes and works. The news is astounding because MediaMuv has asserted ownership of more than 50,000 copyrights since Teran and Batista started their scheme in 2017. The bogus business, MediaMUV, collaborated with AdRev in order to use YouTube’s Content ID system to assert these copyrights and collect royalties.
The CMS and Content of YouTube are accessible to the outside company Adrev ID equipment Additionally, it aids in the management of digital copyrights for artists. In order to verify ownership over the asserted music, the bogus company produced a few fictitious documents and furnished AdRev with this documentation. The bad news is that AdRev gave MediaMuv direct access to YouTube’s CMS so they could assert copyrights on their own in addition to assisting them in collecting royalties for those copyrights.
The four-year-long theft of royalties by Teran and Batista came to a stop last year when an IRS probe discovered the truth. The two were charged with “30 charges of conspiracy, wire fraud, money laundering, and aggravated identity theft,” according to the most recent reports from Billboard. Teran’s trial began after his not-guilty has a November date. However, Batista agreed to a plea bargain on one count of conspiracy and one count of wire fraud, and as a result, a lot of details about how the two pulled off their scam were revealed.
Due to the strength of the CMS and Content ID tools, YouTube needs to be careful about who it grants access to. Just imagine how many more con artists are still stealing royalties from countless artists. The internet copyright system has to be improved and made more secure because it has serious flaws.