YouTube Pays IDR 133 Trillion To The Music Industry In 12 Months

YouTube paid billions of dollars to the music industry (photo: dock. unsplash)

JAKARTA YouTube announced that it has paid more than US$8 billion (Rp133 trillion) in a span of 12 months. This period is calculated from July last year to July this year.

This large fund was handed over to the music industry, to be precise to labels, musicians, songwriters, and much more. This report shows an increase of up to 2 billion US dollars (Rp 33.2 trillion) in payments to the music industry since 2022.

"Today's Rp133 trillion payment is clear evidence that double advertising and subscription machines are going very well," said Lyor Cohen, Head of Global Music at YouTube, quoted on Friday, October 24.

Cohen pun menekankan bahwa angka yang mereka mengeluarkan ini bukan titik akhir. Upaya pembayaran untuk industri musik ini akan dilakukan secara berkelanjutan. Harapannya, jumlah pembayaran ini akan terus bertambah setiap tahunnya.

"This is meaningful and sustainable progress on our journey to build a long-term home for every artist, songwriter and publisher on the global stage," Cohen added.

This announcement puts YouTube as a strong competitor in the global music streaming market. Previously, Spotify also made a report on the amount of funds they spent on the music industry in 2024.

The funds they spent were much larger, namely up to 10 billion US dollars (Rp166 trillion). Although the payments issued by YouTube were not as big as Spotify, the company showed a strengthening in terms of users.

YouTube notes that they now have more than 125 million Music and Premium subscribers worldwide. In addition, its global reach continues to expand with two billion viewers watching music videos every month.