YouTube defends its record of paying royalties to artists
YouTube has defended its royalty scheme for artists, claiming that it’s close to being the top revenue source in the industry.Katie Oyama, the platform’s director of government affairs and public policy, was quizzed by MPs this week as part of the Digital, Culture, Media and Sport’s (DCMS) ongoing inquiry into the economics of music streaming.YouTube’s written evidence [seen by MusicWeek], which says that “record labels agree it is possible we will become the music industry’s number one source of revenue by 2025”, was challenged in the hearing by British Phonographic Industry (BPI) CEO Geoff Taylor.