- What industry do you work in and what is your role?
- What are your responses in your role / position?
- Can you describe to the function of your workplace / company?
- How many departments, how many offices. National or International?
- What are the minimum requirements for employment ie Education or Experience?
- How many opportunities are there to ‘move up the ladder’?
- What is the process for changing job roles ie Interview? Test?
- Current projects? Deadlines? Opportunities?
- Anything of interest happening?
1.
Not so fast, Spotify. A few months after the Swedish audio streaming company’s CEO Daniel Ek announced Spotify paid $5 billion to the music industry in 2020, rival YouTube’s global head of music Lyor Cohen today said the platform put more than $4 billion in the pockets of artists, songwriters, and rights-holders during the past 12 months.
2.
In a June 2 letter shared with the music industry, Cohen said the money fueling YouTube’s payout came through the dual channels of YouTube ads, and YouTube Music and YouTube Premium subscriptions. The company generated $19.78 billion from advertising during 2020, so its payment to the music industry is about 20 percent its advertising revenue.
3.
The swagger from both companies may be lost on the myriad artists and songwriters who are splitting pennies per stream of their songs. Stating YouTube’s aim is “to become the leading revenue generator for the music industry and to help artists around the world build a career making music,” Cohen noted the Alphabet-owned company added more paid “members” in Q1 2021 than it has during any quarter since launch.
How do you find new music? How does that compare to finding new music 10/20/30 years ago?
4.
YouTube paid the music industry $3 billion in 2019, according to the company. Among its most significant revenue-generators, user-generated content on YouTube accounted for more than 30 percent of the $4 billion it paid to the music industry in the last 12 months, Cohen stated in the letter.
5.
“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.”
6.
Cohen pointed out YouTube is continuing to mine new revenue sources, among them innovations in direct-to-fan products including merch, ticketing, memberships and paid virtual events.
What do you think is the most effective way to release music now? Do you think its harder or easier now? Why?
7.
Citing BLACKPINK’s paid livestream The Show as an example, he noted the January 31 exclusive to YouTube event sold nearly 280,000 channel memberships across 81 countries and helped the group earn 2.7 million new subscribers to their official artist channel.
8.
Martin Mills, founder and chairman of the Beggars Group, gives a thumbs up to the new report. “YouTube’s growth for the Beggars business over the past couple of years has outpaced everyone as well as the market itself, and is now well on its way to deliver the potential of its huge audience to the music industry, as these revenue figures now show,” he says.
How do you think the industry will change in the future? Please discuss
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