YouTube Pays Music Industry $6 Billion Over Past Year

<p>YouTube says it has paid the music industry &dollar;6 billion in ad revenue sharing and subscriptions for the 12 months between July 2021 and June 2022&period; This is a &dollar;2 billion increase from the <a href&equals;"https&colon;&sol;&sol;blog&period;youtube&sol;news-and-events&sol;4-billion-paid-music-industry&sol;" target&equals;"&lowbar;self" rel&equals;"noopener">&dollar;4 billion contribution announced in 2021<&sol;a>&period;<&sol;p>&NewLine;<p>The announcement was made by Lyor Cohen&comma; Global Head of Music for YouTube&period;<&sol;p>&NewLine;<p>YouTube&comma; owned by Google&comma; says it wants to be the &num;1 contributor of revenue to the music industry by 2025&period; YouTube is monetizing all music formats &lpar;short &amp&semi; long form video&comma; audio tracks&comma; Live&comma; etc&period;&rpar;&comma; on all platforms &lpar;desktop&comma; tablet&comma; mobile&comma; and TV&rpar;&comma; in over 100 countries&period; And overall watch time of music content on YouTube across desktop&comma; tablet&comma; mobile&comma; and TV continues to grow year over year&period;<&sol;p>&NewLine;<p>The company has also pioneered the monetization of user generated content &lpar;UGC&rpar;&comma; which has become a powerful engine for the industry&colon;<&sol;p>&NewLine;<p><b>&&num;8212&semi; UGC drove over 30&percnt; of payouts for artists&comma; songwriters and rights-holders&comma; for the second year in a row&period;<&sol;b><&sol;p>&NewLine;<p><b>&&num;8212&semi; Shorts generates 30 billion views per day&comma; with 1&period;5 billion monthly logged-in users<&sol;b>&period;<&sol;p>&NewLine;