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IFPI Sneers at YouTube's $1 Billion Music Industry Revenue Payout

IFPI Sneers at YouTube's $1 Billion Music Industry Revenue Payout

Over the past year, Youtube has paid out $1 billion dollars just in ad revue to the music industry, according to the video site.

Online video streaming service YouTube has been criticized for not paying enough royalties to the music industry, after representatives from the Google company this week said that the company had paid over $1bn this year to musicians. But-not surprisingly-the Alphabet subsidiary disagrees.

"Google has issued more unexplained numbers on what it claims YouTube pays the music industry", said a spokesperson for the global music body, the IFPI. Sources say that Spotify is on track to pay the music industry $1.6 billion in 2016. Tuesday's blog post appears to be the first time the company has provided an annual figure.

In a press release from Chief Business Officer Robert Kyncl, he said that in doing so, they're "demonstrating that multiple experiences and models are succeeding alongside each other and "in the future, the music business has an opportunity to look a lot like television, where subscriptions and advertising contribute roughly equal amounts of revenue, bolstered by digital and physical sales".

Music streaming subscriptions are on the rise, but YouTube isn't intimidated. That's the clause that prevents copyright holders from suing for infringement, as long as the service takes down infringing material when it gets notified.

Instant Replay: No. 7 Penn State 38, No. 6 Wisconsin 31
Penn State team members celebrate after defeating Wisconsin in the Big Ten championship game Saturday in Indianapolis . The Nittany Lions finished the season on a nine-game winning streak to make a strong closing statement.

Overall digital revenue to the recording industry in the USA in the first half of this year - from every source, including downloads, streaming, ringtones, you name it - reached $2.66 billion, 77.5 percent of the industry's total half-year haul.

In his blog post, Mr. Kyncl conceded that the current model was not ideal, arguing: "There is a lot of work that must be done by YouTube and the industry as a whole".

However, the IFPI has maintained its position, saying in a statement that YouTube is still "not paying artists and producers anything like a fair rate for music". "To achieve this, there is a lot of work that must be done by YouTube and the industry as a whole, but we are excited to see the momentum", he wrote.

Much of the argument revolves around the question: what is YouTube? In many cases, the music in YouTube videos is secondary to their intended goal, the company says and regardless, the Content ID system allows rights' holders to monetize those views if they want to.


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