Warner Music Group decided on Saturday to remove all of its content from the popular video-sharing Web site Youtube. The company demanded Youtube to immediately remove all the music videos featuring its artists, as the two were not able to complete the discussion on a new licensing agreement.

"We simply cannot accept terms that fail to appropriately and fairly compensate recording artists, songwriters, labels and publishers for the value they provide," Warner Music was quoted saying in a statement, which means that the company was looking to gain a bigger piece of Youtube’s online visitor traffic revenue.

According to Reuters, Warner Music owns the rights to hundreds of thousands of videos, in addition to the publishing rights for several songs released under the company’s Warner/Chapell unit.

The deal between the two dates from 2006, when an agreement was reached on the revenue Warner Music would receive from allowing its content to be featured on Youtube.

Youtube still profits from its deals with Sony Music Entertainment, EMI Music and Universal Music Group, and for now, the three major industry players will continue the partnership, as it is considered a business with great potential. Each company receives a piece of the ad revenue associated with its videos and also a pay for each view recorded by each video. Still, the revenue generated so far by these deals did not measure up to the expectations and there are some who believe that it is just a matter of time before the music companies will decide on finding new ways to promote their content.