TuneCore's YouTube Money Offers Artists New Revenue Stream
October 22, 2014 at 6:49 AM (PT)
TUNECORE has paid out some $471.5 million on 10.6 billion streams and downloads since its inception in 2005 and will now launch YOUTUBE MONEY, a new service that gives all its artists the ability to monetize their sound recordings on site driven by 40% music content.
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 collect 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.
After a one-time setup, artists simply select the tracks on which they want to make money via YOUTUBE 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 TUNECORE CEO SCOTT ACKERMAN. "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."
YOUTUBE MONEY is the latest addition to TUNECORE ARTIST SERVICES, a portfolio of music-related resources that support today's independent musician-entrepreneurs.