During the Grammy 365 Independence Day Jeff Price, founder of TuneCore, and Tony Van Veen, President of AVL Labs, spoke on the panel "YouTube: How it makes money on your videos, songs, and recordings, and why it has to pay you". I know the title is a little long winded but what they said during the session wasn't.
Major takeaways from the panel :
"Youtube is the next iTunes"
Use Youtube as music retailer, under most videos with music are links to different sites where people can purchase the music. Make sure you have your music sold on any or all of the following outlets: Google Play, iTunes, Amazon, eMusic, so you can get paid.
Crowd fund for your next album/tour through Youtube. Ask your fans for support on your Youtube channel and use a site like paypal so you can add an easy and trusted payment link.
"Become a Partner"
Youtube allows users to post ads on their channel through its partnership program. The more viewers who watch your video the more you make.
"Make a Playlist"
Make a Youtube playlist include your music with similar pop hits. This will allow others to discover your music.
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