YouTube announced that it will pay out more than $8 million to music artists worldwide throughout 2024. In the first half of this year, YouTube paid out over 8 million dollars to music artists. This was announced by Lyor Cohen, the head of music at YouTube, who noted that the platform effectively supports the work of the entire music industry, including songwriters, publishers, and other rights holders who earn income from recordings and publishing.
"These $8 million are not our final goal. This is a concrete step in building a sustainable ecosystem that supports artists, authors, and other participants in the music industry," Cohen said. He added that the platform will continue to develop long-term relationships with creative personalities to make them independent from the market.
The information was announced at the annual Billboard Latin Music Week conference, which gathers leaders of the Latin American and global music industry. YouTube also noted that its algorithms and analytical tools help creators build an audience, and the systems automatically calculate all formats of content—from short clips to full-length streaming videos.
