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Originally Posted by Robbie
Where did you read that? I'd like to see that too. I think if Universal's music dept. was even making 100 million with everything they are doing these days I'd be shocked. The music industry has been pretty much dead in comparison to what it once was. Can you post a link to that article? 100 million a year on youtube...
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http://news.cnet.com/8301-1023_3-10126439-93.html
Sorry should of posted it before but got lazy and didn't google it again.
- Rio Caraeff, executive vice president of Universal Music Group's eLabs, said the largest of the top recording companies is bringing in "tens of millions of dollars" from YouTube.
- Caraeff declined to give specifics on Universal's deal with YouTube, but a music industry source close to the label said Universal will likely book nearly $100 million in revenue from video streaming this year. That figure includes video-streaming money from all of the company's partners, such as iMeem, MTV, and MySpace. The source said, however, that most of the cash comes from YouTube.
- Universal's CEO, has led the industry to set up videos as a revenue stream. Since 2005, Universal has gone from making zero dollars on music videos to nearly $100 million.
I was a little surprised to, though not really considering how well I've noticed youtube's contentID system being employed for music content and the amount of views music gets on there. I doubt youtube is making much money off the music though, as I would expect pretty much all the ad money is going to pay for licensing and streaming costs.