Is this sustainable?
Earlier statistics from Nielsen showed that more people stream music from YouTube all other on-demand streaming services combined. But the broader picture is even worse: according to statistics revealed by top Apple Music (and former Universal Music Group) executive Jimmy Iovine during an interview at Vanity Fair’s New Establishment Summit in San Francisco, YouTube accounts for 40% of overall music listening, and just 4% of overall music revenues.
“Here’s a little statistic … [YouTube] are 40% of consumption of music and 4% of the revenue. That’s a problem! … They know that doesn’t work. But do they care? I have no idea.”