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> YouTube is taking almost twice the “bad old” music companies’ cut, for basically doing no more than hosting on a server.

Uhm. While the percentage might be considered high. However, youtube does provide more than just hosting:

- Providing a system to publish and get revenue from ads

- Marketing ( with Discovery )

- Community Services ( Forum / Comments / Sharing / User Identity )

I agree especially with the discovery part. Nearly everything I listen to on a regular basis was discovered on either YouTube or spotify.

However, he does have a point, musicians aren't making any money out of streaming, which is unfair.