A few months after Spotify’s CEO Daniel Ek announced Spotify paid $5 billion to the music industry in 2020, rival YouTube global head of music Lyor Cohen today said the platform paid more than $4 billion to artists, songwriters, and rights-holders during the past 12 months.
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.
At this point, anybody that does music is advised to chop that YouTube money! Think differently? Tell us here