With music videos estimated to drive nearly 40% of all views on YouTube, the video service has significant revenue-generating potential for musicians. To help artists maximize this opportunity, TuneCore today announced the launch of YouTube Money, a new service that gives all TuneCore Artists worldwide the ability to monetize their sound recordings on YouTube.
A survey of TuneCore Artists revealed that they now consider YouTube to be the third most important point of distribution for their music, behind only iTunes and Spotify. With YouTube Money, they can drive even more value from the video platform by collecting a percentage of advertising revenue generated from any videos that use their sound recordings. This includes user-generated or other non-owned content in addition to the artists’ YouTube channel. Artists do maintain the ability to exclude their own channel from the service if they desire.
Using YouTube Money is easy. After a one-time setup, artists simply select the tracks on which they want to make money, and TuneCore manages the rest of the process. In-depth, transparent reporting of all money collected on artists’ behalf can be readily viewed on their YouTube Money dashboard. Earnings are deposited directly into the same TuneCore account as revenue from music distribution and songwriter royalties, making the funds easily available for withdrawal or reinvestment in other career-building services.
“Musicians and songwriters today need to maximize their revenue across a growing number of touch points and platforms, and TuneCore is dedicated to making the process simple and efficient,” stated Scott Ackerman, TuneCore CEO. “As YouTube’s importance as a point of distribution increases, we want to ensure Artists are receiving the full benefits. With YouTube Money, we’re confident TuneCore can help artists by collecting the YouTube revenue artists have earned while artists can focus on what’s most important – making music and getting their music out to the world.”
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