Ultra Music’s YouTube Channel Hits 1 Million Subscribers, Moxey Calls Video Streaming ‘Serious Revenue Source’

From Billboard:

Dance-music powerhouse Ultra Music will announce later today that its YouTube channel has reached 1 million subscribers, making it the No. 1 independent label channel on the site, and No. 11 channel overall. The milestone comes on the heels of the company’s strategic alliances with Ultra Music Festival and Wynn Las Vegas earlier this year.

“It’s a new thought process,” Ultra president Patrick Moxey told Billboard.biz. “Before we were just thinking audio; now we’re thinking audio-visual.”

The five-year-old channel, which boasts close to 2 billion total views, found its success through aggressive promotion “since day one,” Moxey said, and a long-tail syndication strategy involving a wide array of partners.

“The monetization that occurs from streaming is important revenue for Ultra’s artists,” he continued. “We accounted to artists for video streams probably two years before most other labels. We grasped the concept really early on that this is a serious revenue source and you’ve got to really work on it.”

Continue reading the rest of the story on Billboard