Billboard.com reports that the BBC and EMI Music Group have signed an agreement that allows both groups to take advantage of the wealth of one another’s material.

The report goes on to say that EMI will have access to the BBC’s archive of radio and television recordings in order to produce DVDs, CDs, and digital downloads of performances by EMI artists. In turn, the BBC will be allowed to use EMI artist performances to create new international programming.

The report says that both companies will receive reciprocal royalties from each other’s sales.

“In the BBC vaults there is a wealth of unreleased and high quality material from EMI artists that we will now be able to bring to fans,â€? said Pete Duckworth, senior VP of EMI Music U.K. and Ireland, in the report. “At the same time, we can offer new revenue opportunities to our artists that simply weren’t there before.â€?