Seeking YouTube is reasserting its relevance, with a new set of ideas on the role it plays in promoting musicians and amplifying their content.
As TikTok consolidates its ties with the music industry, it has turned into an increasingly influential platform for music trends.
YouTube has paid more than $4 billion to the music industry in the past 12 months alone.
This is through its various elements that enable musicians to promote their content and monetize it directly in the application.
The platform said: YouTube is the largest theater in the world. Advertisers are therefore keen to take advantage of the deep musical engagement that the platform offers.
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With more than 2 billion users watching music videos each month, YouTube allows advertisers to reach audiences that they can’t find anywhere else.
In addition, YouTube added more paying members in the first quarter of ’21 than in any other quarter in our history.
YouTube also notes that of the billions it has generated for artists, songwriters and rights holders over the past year, more than 30 percent has come from user-generated content.
She said, “Fan-supported videos have always thrived on YouTube, helping artists increase audiences and make songs available worldwide.” We are glad that it is now also a useful and growing source of revenue along with premium music content.
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YouTube rival Tik Tok:
This statement seems like a clear nod to TikTok, whose hashtag trends are now fueling massive interaction around the latest tracks.
While Tik Tok is the notable trending platform in this regard, YouTube says it can help musicians build their business interests, rather than just posting new dance clips.
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Although it is difficult to quantify the full potential revenue. Many of the songs that have gained momentum on Tik Tok have generated significant revenue for their creators.
Old tracks have also seen a new resurgence with Tik Tok trends. Given this, it is difficult to determine the best platform for promoting music.
But YouTube says its revenue potential is more direct, more quantifiable, something that can be tied directly to its tools and processes.
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In addition, YouTube also reports that it is working on new shows for musicians. Looking to build more revenue generation options.
“We continue to innovate through direct-to-fan products, such as tickets, merchandise, memberships, paid digital goods and virtual ticketed events,” she said.
This is a general update on the progress of the YouTube Music Tools. But it focuses on Tik Tok, highlighting the benefits of YouTube to musicians in comparison to the up-and-coming app.
The Google-owned platform is trying to stymie the growth of Tik Tok with its short video feed. And as TikTok continues to gain momentum, YouTube remains similarly focused on fending off potential competition.
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