TuneCore has announced the launch of YouTube Money, a monetization and collection service for music videos. Music videos are estimated to drive nearly 40% of all views on YouTube and a survey of TuneCore artists showed they now consider YouTube to be the third most important point of distribution for their music, behind only iTunes and Spotify.
Ironically, or perhaps strategically, TuneCore's YouTube Money competes with Audiam, a YouTube monetization service launched last year by Jeff Price and Peter Wells, TuneCore co-founders who exited the flat fee music distributor in 2012.
With both services, artists 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 maintain the ability to exclude their own channel from the service.
“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 Scott Ackerman, TuneCore CEO. “As YouTube’s importance as a point of distribution increases, we want to ensure Artists are receiving the full benefits.
YouTube Money is the latest addition to TuneCore Artist Services, a portfolio of music-related resources.