YouTube brought the record industry extra profits of $ 6 billion

In 2021, the related business had stopped at just 4 billion dollars

The Mountain View giant has released data on the contribution that the streaming platform made to the record industry last year. YouTube in 2021 paid extra profits of $ 4 billion to the music industry while in the 12 months between July 2021 and June 2022, on the other hand, it paid over $ 6 billion to the industry, an increase of 2 billion compared to those of the 2021. According to Lyor Cohen, Global Head of Music at YouTube, it is thanks to the “dual track model, which includes advertisements and subscription to premium services, that these results have been achieved, and the intention is for YouTube to become the main source of income of the music industry by 2025 ”.



“YouTube monetizes all music formats (short and long videos, audio tracks, live, etc …) on all media (desktop, tablet, mobile devices and TV), in over 100 countries”, continues Cohen, “It’s time to overall visualization of the use of musical contents grows without decline “. But it seems to be the strategy behind the publication of the videos that makes the user experience unique and it is no coincidence that Cohen mentions the case of “Pink Venom”, the latest single from the Korean band Black Pink. In fact, fans were able to discover the teaser of the music video, take part in a challenge on Shorts and participate in the live streaming premiere of the musical video. The result is there for all to see, Pink Venom became the most viewed music video of 2022 in the first 24 hours of release and the third most viewed music video of all time in the first 24 hours of launch.



Source-www.adnkronos.com