YouTube contributed 6,000 million dollars to the music sector in the last year

YouTube contributed 6,000 million dollars to the music sector in the last year

New York, Sep 13 – The YouTube video platform reported this Tuesday that it has contributed 6,000 million dollars to the music sector in the last year (until July 2022), a figure higher than that of the previous year. and in which the content generated by the users has had a notable weight.

On YouTube’s blog, its musical manager, Lyor Cohen, pointed out that the platform has contributed 2 billion dollars more to music than in the previous period, and assured that it has “the foot on the accelerator” in order to become in its first source of income in 2025.

User-generated content, which the firm monetizes, accounted for 30% of payments for the second year in a row, going to artists, songwriters and rights holders.

The executive explained that YouTube monetizes short and long videos, songs, live shows and other content on all devices, from the phone to the television, and the total time spent watching music content “continues to increase year after year.”

Short videos or “Shorts”, in particular, accumulate some 30,000 million daily views and are one of the areas in which the company is interested, since it has created a fund of 100 million dollars to reward creators and is working on “long-term monetization solutions”.

He pointed to the BlackPink group’s “Pink Venom” theme launch as an example of success, in which viewers interacted with a preview of the video clip, joined a “challenge” to create short videos dancing to the theme, and finally saw the premiere of the song live. video clip.

Rachel Maga
Rachel Maga is a technology journalist currently working at Globe Live Media agency. She has been in the Technology Journalism field for over 5 years now. Her life's biggest milestone is the inside tour of Tesla Industries, which was gifted to her by the legend Elon Musk himself.