Music labels making millions from YouTube, says Google

Universal Music will be confident about the success of Jessie J’s debut album Who You Are which is released today, as she is one of the most viewed artists on YouTube this year with almost 40 million hits on just two of her music videos.Yet YouTube is no longer just about building a buzz on emerging artists and new albums. The largest labels, including Jessie J’s Universal Music Group, are making “millions of dollars a month” from the advertising alongside their videos, a senior executive at the site has revealed. He added that his company’s relations had improved with the labels, after the two sides fell out over royalties in 2009.YouTube has revealed that its music partners, which range from Sony, Warner, Universal and EMI to independents and individual artists, have doubled and in some cases trebled their monthly revenues over this time last year.

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