Recently, the contracts that major recording labels have with YouTube have come up for renewal. But there was some speculation that the labels might not renew because they were no longer happy with the terms that YouTube was setting.
Now, at least one of those labels, Sony, has re-signed a contract with the popular online video site. The terms of the deal have not been released.
In the past, YouTube and the record labels have had an ad-sharing agreement. But after Warner pulled their vids from YouTube, news broke that the labels were negotiating to create a Hulu-like music video site.
Whether that happens or not, it appears there's still some value in keeping music videos on the most trafficked video site in the world.