This week, that included two key features: streamlined music licensing for long-form videos, and a revenue-sharing program for Shorts creators. What is so groundbreaking about YouTube’s approach is actually really simple: all of their innovations focus on helping creators and artists earn money, full stop. The last two years of pandemic-driven disruption in the music industry may just have created a window of opportunity for real change in the fight for gender equality. Finally, this history gives YouTube the advantage of a deep understanding of creators’ needs - chief among them, money.Īrtists and creators will follow the money Its strength in UGC also helps YouTube attract gen Z, while Spotify’s core base of millennials are beginning to age. ![]() ![]() What has changed, and in YouTube’s favor, is that this level of engagement “has become mission critical” for artists. The launch of its Partner Program in 2007 made it one of the first places where creators could make money by creating content online. As YouTube’s global head of music, Lyor Cohen, noted in an open letter this week, YouTube has facilitated a “two-way street” between creators and their audiences since its founding back in 2005. Still, that 30% represents a secret weapon that sets YouTube apart from Spotify, and will likely become even more important. YouTube’s payments to the music industry rose by 50%, but the proportion made up by UGC - 30% - did not change. As UGC and non-DSP streaming become increasingly integral to the music industry, this could be enough to tip the balance in YouTube’s favor. No wonder that 30% of YouTube’s contribution to music rightsholders came from user-generated content (UGC). Yet YouTube has something that Spotify does not: a more than decade-old creator proposition and a proven ability to actually help creators make money, which the company is now doubling (if not quadrupling) down on. While YouTube paid out $6 billion to the music industry in the 12 months ending in June 2022 - a 50% increase year-over-year - Spotify paid out $7 billion in royalties to the music industry in 2021, up 40% from 2020. The clock is ticking, and although YouTube is the most popular platform for music listening globally (55% of consumers watch music videos on YouTube, compared to 24% who listen to Spotify), it still has a significant way to go towards translating that dominance to revenue. To know how Apple Music compares to YouTube Music, you can see the breakdown for rough overview.YouTube has not been quiet about its ambitions to overtake Spotify as the music industry’s top revenue driver by 2025. The YouTube Music was launched in June 2018, the service mainly focuses on personalized radio stations, playlists, and personal music library. ![]() However, if you're more interested in listening than watching, please take a deep look at YouTube Music. With YouTube, you can find music videos for millions of songs and watch them ad-free with YouTube Premium. YouTube is one of the most popular video platforms in the world, because of its comprehensiveness for diverse videos and music. This service provides new subscribers a three-month free trial period, and it lets users access more than 100 million songs worldwide with a paid subscription. It is a music and podcast streaming service and online music locker developed by Apple Inc. YouTube Music: Which Should I Go For?Īpple Music was launched on June 8, 2015.
0 Comments
Leave a Reply. |