YouTube's four billion dollar stats brag

CMU’s Andy Malt and Chris Cooke review key events in music and the music business from the last week, including YouTube Global Head Of Music Lyor Cohen’s brag that the Google division has paid out over $4 billion to the music industry over the last year, and the last minute pleas for the government to save the festival season by offering state-backed cancellation insurance. SECTION TIMES 01: YouTube (00:4:27) 02: Festival insurance (00:24:50) (Timings may be slightly different due to adverts) STORIES DISCUSSED THIS WEEK • YouTube paid $4 billion to the music industry last year and is still finding new sources of revenue for artists, says Lyor Cohen • Culture select committee says government inaction on insurance will result in another “lost summer” for the festival sector ALSO MENTIONED • Robert Smith says he’s working on an album of “just noise” • Lyor Cohen’s blog post • Latest report from IMPALA’s One Step Ahead MORE FROM CMU • Book your place on CMU’s weekly webinars • Buy MMF and CMU Insights’ Dissecting The Digital Dollar book on Amazon • Sign up to receive the CMU Daily news bulletin