Yes, but they'll put ads in front of them and give the money to the rights holder, which is not a hindrance producers who create original material will have to suffer with.
As a remix artist myself, my experience from youtube (which I believe have similar deals in place) is that rights owners will tolerate (i.e. monetize) straight copies of their work, but many remixes, mashups and cutups get blocked. Which is sad because I feel the opposite would be more beneficial to pop culture as a whole (i.e. more interaction, variation and interpretation, less passive consumption of blockbuster hits).