Jem Aswad Senior Music EditorYouTube paid out more than $4 billion in royalties to artists, songwriters, and rights-holders, according to a new blog post from the streaming giant’s global head of music Lyor Cohen.While the post was short on detail, Cohen did say that “YouTube has paid over $4 billion to the music industry in the last 12 months alone and has added more paid members in Q1 ’21 than in any other quarter since launch.” He also added that the money was derived from ads and premium subscriptions, and that more than 30% of that $4 billion came from user-generated content.Cohen said YouTube’s aim is “to become the leading revenue generator for the music industry,” although it has a ways to go: Spotify co-founder and CEO Daniel.
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