Youtube Paid Over $4 Billion To Music Industry In The Last 12 Months

California, June 2, 2021: Video streaming platform, Youtube has paid more than $4 billion to the music industry in the past 12 months, according to a letter sent by Lyor Cohen, Youtube's top music executive (via The Hollywood Reporter).

That $4 billion payout includes payments to artists, writers, labels, and others. Cohen said that 30 percent of that $4 billion figure went to creators of user-generated content.



"Fan-powered videos have always flourished on YouTube, helping artists grow their audiences and break songs around the world", he wrote. "We're thrilled it's now also become a meaningful and incremental source of revenue alongside premium music content".

Lyor Cohen also added that YouTube Music added more new subscribers in Q1 2021 than in any other quarter since the platform launched, although he did not provide an overall subscriber figure.

Stay tuned...