Tuesday, 15 July 2014

YouTube in the news

VentureBeat reports that YouTube was profitable off $3.5 billion in revenue generated in 2013. Google owns YouTube, but the company has never stated the streaming service’s revenue figures within its quarterly or annual earnings reports. The $3.5 billion figure is also from lower than many analysts’ predictions. For example, eMarketer estimated that YouTube would make $5.6 billion in ad revenue for 2013. 

And CMU Daily reports that The British Academy of Songwriters (BASCA) has issued a statement supporting independent labels in their fight against YouTube’s music service contract. YouTube told uncooperative indie labels that if an agreement might not be reached, their content would be taken down prompting outrage in the recorded music sector who referred the matter to the European Commission. statement BASCA included statements from various members of the organisation, including Texas frontwoman Sharleen Spiteri, who told reporters: "Songwriters fully support independent record labels in their fight to get better terms and deals from YouTube. It's about time we all made some noise about the way they negotiate with take-it-or-leave-it deals". Meanwhile both Spiteri and fellow BASCA member Barry Mason, who wrote Tom Jones hit 'Delilah' amongst many other songs, expressed concerns about the rates paid by streaming services in general, and the existing YouTube video site in particular. Spiteri continued: "It might be a little easier for writers like myself who also perform, but for those who do not and now have to rely on streaming income, the current rates are just not enough".

And finally with YouTube, a new YouTube channel called Music Vault has launched, featuring an archive of more than 13,000 live videos, including both single tracks and full performances, spanning the last 50 years. Run by the Wolfgang's Vault website, the footage on the channel is drawn from various sources including Bill Graham Presents and Daytrotter. Music Vault Content Editor Bill Antonucci said: "After two years restoring, transferring, mixing and mastering thousands of tapes from our enormous archive, we're thrilled and extremely proud to share this massive treasure with the YouTube audience".

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