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YouTube accounts for 25% of all the music streamed online and without it, 85% of users who listen to music online would be forced to use a service that offers lower (or no) financial benefits to the musicians, according to a report from the company last year.

  • But that's not enough for the music labels whose clients' work is streamed on YouTube — now they're going after the company claiming it isn't paying them enough to stream their songs, per WashPost. YouTube pays musicians an estimated $1 per 1,000 song plays, while Apple and Spotify pay $7.
  • The details, from WashPost: "Music labels accuse YouTube of using a legal loophole to pay less for songs than traditional music-streaming sites, calling YouTube the biggest threat since song piracy crippled the industry in the early 2000s."
  • What's next: The EU is going to release new rules later in the year regulating how YouTube handles and pays musicians for their work.

Go deeper

Biden signs racial equity executive orders

Joe Biden prays at Grace Lutheran Church in Kenosha, Wisconsin, on September 3, 2020, in the aftermath of the police shooting of Jacob Blake. PHOTO: Jim Watson/AFP via Getty Images

President Joe Biden on Tuesday signed executive orders on housing and ending the Justice Department's use of private prisons as part of what the White House is calling his “racial equity agenda.”

The big picture: Biden needs the support of Congress to push through police reform or new voting rights legislation. The executive orders serve as his down payment to immediately address systemic racism while he focuses on the pandemic.

Senate confirms Antony Blinken as secretary of state

Antony Blinken. Photo: Alex Edelman/Pool/AFP via Getty Images

The Senate voted 78-22 on Tuesday to confirm Antony Blinken as secretary of state.

Why it matters: Blinken, a longtime adviser to President Biden, will lead the administration's diplomatic efforts to re-engage with the world after four years of former President Trump's "America first" policy.

1 hour ago - World

Former Google CEO and others call for U.S.-China tech "bifurcation"

Illustration: Aïda Amer/Axios

A new set of proposals by a group of influential D.C. insiders and tech industry practitioners calling for a degree of "bifurcation" in the U.S. and Chinese tech sectors is circulating in the Biden administration. Axios has obtained a copy.

Why it matters: The idea of "decoupling" certain sectors of the U.S. and Chinese economies felt radical three years ago, when Trump's trade war brought the term into common parlance. But now the strategy has growing bipartisan and even industry support.