YouTube global head of music Lyor Cohen announced that the platform paid $6 billion to the music industry between July 2021 and June 2022, a 50 percent increase over the $4 billion distributed in the same period in the prior frame. The amount includes monetization across all formats — short and long form video, audio only, live, user-generated content and more — on all platforms (desktop, tablet, mobile, and TV), in over 100 countries. For the second consecutive measurement period, UGC drove more than 30 percent of the payouts for artists, songwriters and rights-holders, according to the company. Continue reading Annual YouTube Music Payments Up 50 Percent to $6 Billion

Spotify will debut a Hi-Fi option later this year, the company announced during its recent “Stream On” presentation. Chief executive and co-founder Daniel Ek also revealed that the company paid $5 billion in royalties during 2020, and chief content officer Dawn Ostroff added that, over the last four years, 800+ recording artists have made more than $1 million a year in recording and publishing, up over 82 percent. About 7,500 artists made more than $100,000 a year, up 79 percent. Spotify also announced that it will launch paid podcast subscriptions. Continue reading Spotify to Introduce Hi-Fi Option, Paid Podcast Subscriptions