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Billionaire Leonard Blavatnik appoints tech industry veteran as record label seeks new revenue sources
Company tries to win back big brands worried about inappropriate content on video site
Site will charge $9.99 a month for video, music and gaming
Market is rapidly expanding and there is plenty of room for companies to grow, says content head
Deal ends long-running negotiation and paves way for launch of subscription offering
Video site allows more time to negotiate a solution with labels
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