He highlighted how much (or how little) artists can monetize on YouTube. “We need to work with YouTube to monetize more effectively, which hopefully will begin in earnest when they finally launch their subscription service,” McDaniels said. He questioned the proliferation of artists on YouTube, where the monetization rate is so uncertain, while many of those same musicians refuse to put their catalog on legally licensed streaming services.
McDaniels also called for more musicians to adopt an open mind about the long-term earning potential of subscription streaming services rather than bemoan the downturn in album sales. By his math, having all listeners sign up for a $10-a-month subscription could yield three times the money for the industry compared with the average $40-$45 per year individuals spend on album purchases per year.