YouTube pays over $6 billion to the music industry in 12 months

OFFICIAL PRESS RELEASE


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YouTube Music

Today, YouTube announced that in the 12 months between July 2021 and June 2022, YouTube paid over $6B to the music industry. This is a $2B increase from the $4B contribution the platform announced in 2021. Overall watch time of music content on YouTube across desktop, tablet, mobile, and TV continues to grow year over year, and user generated content has been a powerful engine in that growth. UGC drove over 30% of payouts for artists, songwriters and rights-holders, for the second year in a row, whileShorts generates 30 billion views per day, with 1.5 billion monthly logged-in users.

For full information, read the blog post from Lyor Cohen, Global Head of Music at YouTube, HERE and copied below. Also sharing below quotes for attribution from Lyor and industry partner including managers of Bad Bunny and Billie Eilish.

Lyor Cohen, Global Head of Music at YouTube: "I could not be more proud about YouTube's progress in driving revenue back to the music industry," said Lyor Cohen, Global Head of Music at YouTube. "We remain laser focused on becoming the number one contributor of revenue for the industry while also building a connected music experience across all music formats for fans and artists that allows for discovery, consumption and participation."

PARTNER QUOTES:

• Michael Nash, Executive Vice President of Digital Strategy at Universal Music Group: “YouTube continues to be a powerhouse of music discovery, offering a full-featured journey across content formats for our artists’ fans. UMG is proud of the partnership we’ve built together that has led to an exponential increase in payouts to recording artists, songwriters, labels and the entire music ecosystem.”

• Mike O’Neill, President & CEO, BMI: “We applaud YouTube’s amplified focus on music, which has increased royalties for the creators of that music. BMI and YouTube have long collaborated in numerous ways to help BMI creators utilize YouTube’s platform to promote their craft and maximize their exposure. YouTube contributed to BMI’s record breaking revenue and royalty distributions this past year, and we’re excited to continue to strengthen our partnership to benefit our music creators and copyright owners.”

• Oana Ruxandra is EVP of Business Development & Chief Digital Officer for Warner Music Group: “WMG remains committed to championing the value of music. We look forward to YouTube’s continued support in helping us to drive these efforts and are excited for what the future holds.”
Annabella Coldrick, Chief Executive, Music Managers Forum: “This significant uplift in payments from YouTube through to the wider music industry is very positive news for artists and songwriters in a time of economic uncertainty and rising touring costs. MMF hugely values the constructive relationship we have with YouTube music and the consistent investment they have made in developing the skills and talent of the UK management community. This support has directly contributed to the success of new artists whose music is hitting new heights in the UK and globally.”

•Noah Assad, CEO, Rimas Music (Manager for Bad Bunny): “Not only is YouTube a massive contributor of revenue to the music industry, it’s an essential platform for artist development, independent music and music promotion. I’ve seen firsthand how artists benefit from the multi format potential of YouTube. From music video premieres, to live streams to shorts and so much more. The platform is constantly evolving, working to build artist careers and helping them to reach music fans all over the world with long lasting results. Youtube is where community and culture connect.”

• Danny Rukasin, Co-Founder / Artist Manager, Best Friends Music (Manager for Billie Eilish): “We have collaborated with our friends at YouTube on music campaigns and launches across our entire roster, and have enjoyed every single moment. Their team’s commitment to the creative process, music discovery, and support for all artists comes through connecting and driving fandom and consistency in reaching new viewership milestones. A direct example of that support of developing artists early in their career, is their "Foundry Program" and its recently launched 2022 Class, who we proudly have a client in. As an Artist Management company, we are very excited about their growth in monetization for the community of artists and creators that work incredibly hard on their art.”

$6 billion paid to the music industry in 12 months

By Lyor Cohen

Global Head of Music, YouTube

Sep.13.2022

In the 12 months between July 2021 and June 2022, YouTube paid over $6B to the music industry.

Last year we announced a $4B revenue contribution to the music industry, and our foot is still planted on the gas pedal: In the 12 months between July 2021 and June 2022, YouTube paid over $6B to the music industry. This is a $2B increase from the $4B contribution we announced in 2021.

We want our twin engine of ads and subscriptions to be the #1 contributor of revenue to the industry by 2025. That’s why YouTube is monetizing all music formats (short & long form video, audio tracks, Live, etc.), on all platforms (desktop, tablet, mobile, and TV), in over 100 countries. And overall watch time of music content on YouTube across desktop, tablet, mobile, and TV continues to grow year over year.1

We also pioneered the monetization of user generated content (UGC), which we knew could become a powerful engine for the industry:

• UGC drove over 30% of payouts for artists, songwriters and rights-holders, for the second year in a row.2
• Shorts generates 30 billion views per day, with 1.5 billion monthly logged-in users3 — and we’re just getting started. In addition to our $100M Shorts Fund, we’re creating long-term monetization solutions for Shorts, and we’ll have more to share on this soon.

As our twin engine continues to hum, we’re seeing profound changes in music. We must accompany this movement to be the best place for every music fan. Fans want to discover, consume, and participate in music across multiple content formats, and only YouTube can deliver that entire experience in one place. We just saw this play out with BlackPink’s “Pink Venom” release. Fans went from the music video teaser, to the Shorts challenge, to the live-streamed premiere of the music video, and beyond. Then WOW: “Pink Venom” became the biggest 24-hour music video debut of 2022, and the third-largest 24-hour music video debut of all time.

Building a connected music experience across all music formats is great for fans, but it must also be great for artists. All artists. Whether they want to be occasionally brilliant or “always on,” it’s our mission to help them forge their own path on YouTube and develop financially sustainable careers.

With love and respect,

Lyor Cohen

  1. (July 2021 to June 2022 vs July 2020 to June 2021)
  2. (July 2021-June 2022)
  3. As of April 2022
Source YouTube Music

September 13, 2022 10:00am ET by Pressparty  

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