YouTube pays music industry $1 billion from ads

From CNET: YouTube, the music industry's enemy No. 1 earlier this year, said Tuesday it has paid more than $1 billion in advertising revenue to artists, labels and publishers in the last 12 months.

The milestone, released in a blog post by business chief Robert Kyncl, is a stab at mending fences by Google's giant video site. Or, at least, it's hoping convince some critics in the music industry that YouTube's massive amount of free, ad-supported music listening is a valuable complement to music subscriptions, the industry's main area of growth right now.

"It is clear that this creative industry has two strong engines of growth -- subscriptions and advertising -- and we are honored to be a part of it," Kyncl said.

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