YouTube exec: we’ve paid more than $1B to labels

YouTube has paid record labels more than $1 billion in ad revenue over the last several years, said Google’s YouTube Content VP Tom Pickett during a panel at the music industry conference Midem in Cannes, France Monday, according to a Music:Ally report (hat tip to TNW). Music has long been one of the most popular types of content, and there have been a number of reports indicating that the Google-owned video site may launch its own music subscription service soon. Altogether, YouTube generated an estimated $5.6 billion in ad revenue in 2013.

When It Comes to TV Content, Is YouTube Screwed?

Over the past year, YouTube (s GOOG) has made a concerted effort to embrace premium content like TV shows to attract ad revenue. But according to a new report from Screen Digest analyst Arash Amel, the video-sharing giant faces an uphill battle as the Hollywood networks and studios gobble up most of the market for ad-supported TV programming online.

In his report “US Networks claim half of free online TV market,” Amel says that the broadcasting and cable business in the U.S. will shed $2 billion in ad revenue by 2013, dropping to $67 billion from $69 billion in 2008. While TV ad dollars go down, there will be an increase in ad revenue generated by TV programming on the web. Amel says that ad-supported, web-based TV programming generated $448 million in revenues in 2008, and the total ad revenues from online entertainment programming, sports, news and events will be more than $1.45 billion by 2013.

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For News Corp, MySpace Offers Hope

Updated: Earlier this morning, Rich Greenfield, the scary smart media analyst at Pali Capital, slashed his price target on News Corp to $20 from $27, citing big concerns over slowing advertising revenues for newspaper and television stations. And since this is a global problem, there is little room for News Corp to hide.

He is forecasting a 1.5 percent decline in revenues for News Corp.’s newspaper business, a 9.5 percent decline in its TV revenues and a 7.8 percent decline in revenues at its filmed entertainment division. Greenfield cut his earnings and overall revenue estimates on the media behemoth as well. The good news? Rupert Murdoch is sitting on $6 billion in cash, which means he could grow revenues through acquisitions. Cash, if not king, is indeed a king-maker. Read More about For News Corp, MySpace Offers Hope