YouTube has paid out over $1 billion to the music industry "over the last few years", Vice President of YouTube Content Tom Pickett announced during a panel at MIDEM. According to The Guardian, the BPI's Geoff Taylor, sitting on the same panel, suggested that YouTube should be looking into going the same route as its audio rivals, ie with a premium as well as freemium level. Said Taylor: "I think YouTube has lacked [a mix of free and premium tiers], and that has been a problem for the industry. When I looked at the billions of streams there were in music videos, and the pounds and pence coming in to the industry from that, it was a very small number".And Media firm Tribune has completed its $170 million acquisition of Gracenote from Sony Corporation of America - Gracenote is a key provider of music data.
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