YouTube has agreed to pay licensing fees with the National Music Publishers Association (NMPA), which represents about 3,000 independent music publishers (LA Times). This deal is consistant with Vevo’s success, the significant percentage of music videos topping “most viewed charts” and the all-new YouTube.com/music (see promo video).

YouTube, friends, is your new radio station, MTV, iTunes, Pandora, Jango, Live365. I’m Sirius.

This advances YouTube’s partnerships with music publishers to “monetize” user-generated videos that contain music written by artists represented by the NMPA. The four major labels (EMI Music Group, Universal Music Group, Warner Music Group and Sony Music Entertainment) already have separate licensing contracts with YouTube.

What’s relatively new is that these deals cover synchronization rights on behalf of songwriters. Yes, folks, this means independent musicians singing “covers” of a licensed song will be providing a percent of their ad-generated income to the owner (sorry jaaaaaaa). The terms of the royalty payments, however, are confidential. This, of course, is more than fair. Shouldn’t the guy who wrote the timeless classic, “Never Gonna Give You Up” get a chunk money from the ads that surround Rickrolls?

NMPA agreed to drop its class-action lawsuit against YouTube filed in 2007, but members of NMPA have until mid-September to decide whether they wish to opt out of the licensing agreement with YouTube or continue to pursue legal action against the video platform on their own.