YouTube
YouTube

Labels Make More From Vinyl Than YouTube?

YouTube may have been the most widely used online music service last year but billions of streams on the video platform generated less money for British record labels than vinyl sales, according to the head of music industry body the BPI.

As reported in the Financial Times, Geoff Taylor told the Music Futures conference last Thursday that vinyl sales exceeded the advertising revenues from “14B music streams on YouTube” in 2014, suggesting the platform was failing to pay artists and the music industry enough money.

While he did not give specific revenue figures, the BPI said that in 2013, the last year for which data were publicly available, UK vinyl sales accounted for £12.1m of total recorded music revenues of £730.4m.

 

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