Youtube is a popular self broadcasting network on the internet and a report from Youtube shows that more than 2 billion users are watching videos every month. The site, which started in 2005, has since become a subsidiary of Google, an application for phones and can now be used on televisions.
The report states “More than 50 percent of logged-in viewers who consume music content in a day consume more than 10 minutes a day (as of June 2020.) Several music rights holders wondered about the gap between the average amount of consumption and the dollars paid resulting from this.” Youtube said in the report in regards to audio advertising on the site available for the first time “Audio ads are characterized by creatives by creatives where the audio plays the starring role in delivering your message. The video component is simply a still image or simple animation.”
Youtube is reported to distribute $3 billion to all of its music rights holders making them the second largest streaming contributor to labels and publishers after Spotify, a streaming platform designed specifically for music and generates 6,674,000,000 euros ($7,913,121,536 ). Another popular streaming site is Bandcamp which many famous musicians such as Peter Gabriel have been using to release their albums. Bandcamp offers fundraisers where on the first Friday of each month, they waive their portion of streaming revenue so artists can collect more streaming revenue.
According to the report: “Despite losing overall share in revenue in 2019, music retains it’s role as the largest single source of ad revenue since 2017, strongly ahead of gaming at $2.6 billion. Music-related videos also represented 32% of all views in 2019.” Youtube continues to be a popular source for artists to upload their music and videos from all over the world.