YouTube has paid out over $1bn (£612, 332, 000) to the music industry over the last few years, a company executive is reported to have said.
Music Ally reported on the comments made by YouTube’s vice-president of content, Tom Pickett, during a panel at the midem conference.
Tom spoke out in defence of the business, saying: ‘We are very much into music. The music video was dead at that point … and YouTube brought it back … we are all in on music.”
He spoke out against criticism that YouTube was not giving money back to the artists and songwriters.
Speaking of the company's business model, he said: ‘Within the ad-supported model, that puts you in a certain situation where you get the best breadth you can, you build your brand, and with that also comes many other forms of monetisation. We’ve paid out to the music industry over the last several years over a billion dollars.’
Tom sat on a panel alongside Geoff Taylor, boss of the BPI and Brit Awards; Brandon Martinez, CEO of multi-channel network INDMusic and Jordan Berliant, partner at the Collective Music Group.
midem, which is an annual global music conference discussing challenges and trends within the music business, is currently taking place in Cannes in France. Speakers this year included will.i.am and Jean Michel Jarre.
Music Ally reported on the comments made by YouTube’s vice-president of content, Tom Pickett, during a panel at the midem conference.
Tom spoke out in defence of the business, saying: ‘We are very much into music. The music video was dead at that point … and YouTube brought it back … we are all in on music.”
He spoke out against criticism that YouTube was not giving money back to the artists and songwriters.
Speaking of the company's business model, he said: ‘Within the ad-supported model, that puts you in a certain situation where you get the best breadth you can, you build your brand, and with that also comes many other forms of monetisation. We’ve paid out to the music industry over the last several years over a billion dollars.’
Tom sat on a panel alongside Geoff Taylor, boss of the BPI and Brit Awards; Brandon Martinez, CEO of multi-channel network INDMusic and Jordan Berliant, partner at the Collective Music Group.
midem, which is an annual global music conference discussing challenges and trends within the music business, is currently taking place in Cannes in France. Speakers this year included will.i.am and Jean Michel Jarre.
