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YouTube: Friend or Foe of the Music Industry?

YouTube: Friend or Foe of the Music Industry?

Tuesday, May 09, 2017
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YouTube: Friend or Foe of the Music Industry?

Two related themes have dominated music industry discussions and reporting over the last couple of years. From industry conferences At Canadian Music Week and South by Southwest to reports by the BBC and New York Times, there have been jubilation over the revenue growth. Subscription streaming services like Spotify are credited with fueling a 5,9 per cent worldwide growth for the recorded music industry in 2016, which is the largest year-over-year increase since IFPI began tracking the market. In Canada, the growth was even more dramatic at 14.8 per cent thanks to streaming revenues more than doubling. On the flip side, though, it is fretting and even outright anger over the paltry royalties the largest online service, YouTube, pays music rights holders.

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