Posted by Glen Sears | November 16, 2015 11:12 am | No Comments
Story of the Week
YouTube (Finally) Releases Its Music App
YouTube is already, not-so-secretly, the king of the music streaming hill, with 60 percent of people saying they use YouTube to listen to music some or most of the time, according to Edison Research’s “Infinite Dial 2015” report. The majority — 83 percent — of 12-24 year-olds say YouTube is how they keep up-to-date with music. “YouTube as a music channel is as mainstream as all of online audio put together,” the report says.
YouTube has been the subject of scrutiny over its pay to creators and rights holders, though those figures seem to be rising sharply, having paid $3 billion to rights holders since the company’s launch in 2005, a figure that stood at $1 billion in February 2014. With subscriptions bringing in additional revenue that volume will continue to tick upwards. (Randomly, the company’s blog post on the app launch points out that a windowing strategy for new releases — or at least, singles — isn’t encouraged. “Just this month,” Fowler writes, “Adele’s ‘Hello’ became the fastest rising video of the year on YouTube, while also breaking the record for first week download sales.” Whether that could be true for any other artist in the world remains to be seen.) The company says it has solved the problem of monetizing user-generated content — Billboard is still awaiting an answer on the complicated question of payouts on derivative works like Boiler Room sets.
In a congested market, YouTube has every advantage, and the two that matter most especially: money and ubiquity. Now they have a useful music app, too — as long as you pay.
Read more on Billboard: http://bit.ly/1ONpkVo
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