YouTube has paid $6 billion to the music industry in 12 months

todaySeptember 14, 2022 1

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The world’s largest video sharing and social media platform YouTube paid over $6 billion between July 2021 and June 2022, to the music industry.

During the 12 months, the revenue contribution to the music industry is estimated to be $2 billion more than what YouTube announced last year. Lyor Cohen, the global head of music at YouTube also shared that they aim to be the biggest contributor to the music industry by 2025 through the twin engine of ads and subscriptions.

“Building a connected music experience across all music formats is great for fans, but it must also be great for artists”. – Lyor Cohen

Written by: Z Radio Live News