[peroo]

The ability to monetize music on Youtube is unlikely to be a big hit since few labels make much compared to real streaming services. The big hit is going to be for promotion. The only reason indie labels have put up with the abysmal payouts from Youtube have been the fact that it's a great way to promote their music. Youtube is great for discovery and poor for streaming, which makes for great conversion.

However, what Google are trying to do is essentially turn Youtube into a fully fledged music streaming service, but they're framing it as the same old video sharing service to justify continued abyssmal payouts. They can do this because they know that artists will put pressure on their labels to get back on Youtube if they're ever blocked. It's a classic monopolist move, and the only solace is that Google will likely fuck up yet again like they do every time they try to enter different markets.