Who captures the value creators make?

So congrats to all of you guys on that. But on your question, Jason, so we've paid out in the last three years over $70 billion to the creator economy. We are the original and world's largest creator economy. And so, and that innovation, which is called the YouTube Partner Program, is well over a decade now, the 55-45 that you're referring to. And so we pay out billions to creators, creators, our media company partners, the music partners, etc. I'm using that term creator and I'll use it for the next 30 minutes sort of in the broadest sense of the term. It's just that the way that we do it is very different. I mean, we're a creator economy in the true entrepreneurial sense of the word, which is if you're a creator on YouTube, contrast to the traditional model, you're betting on yourself, which is kind of the opposite of sort of the way that traditional media models have worked.

Well, you're going to own the equity in your podcast, right? And then a lot of people, and we started this business, I don't know, about 10 years ago, we started at WME called Talent Ventures, where a lot of musicians, actors, started, because you know, with the broadcast networks and cable channels ratings going down, you know, manufacturers had to get to the audience, and so they used to do it through commercials. When that rating went down, they started then giving equity or people started launching, you know, a lot of different products. Sometimes it was alcohol, sometimes it was perfume, sometimes it was food, etc. That will now start happening with people like you, other podcasters.

We just finished a big, we're finishing a big deal for The Office, which started a broadcast. The new stuff, they're buying out, yes.

Yeah, so you don't have this opportunity to do what, you know, The Simpsons did, to do what South Park did, to do what Seinfeld did, but you yourself are spending your-

I don't know, the last deal I just made for South Park's pretty good for the guys.

No, I know, but that seems to be the last generation to get that. This new generation seems to be just giving their IP over to Netflix. You yourself are saying, I want to own the IP, and you're choosing to buy them. So what is your advice to the clients? Because they can't become billionaires if they don't own IP.

So congrats to all of you guys on that. But on your question, Jason, so we've paid out in the last three years over $70 billion to the creator economy. We are the original and world's largest creator economy. And so, and that innovation, which is called the YouTube Partner Program, is well over a decade now, the 55-45 that you're referring to. And so we pay out billions to creators, creators, our media company partners, the music partners, etc. I'm using that term creator and I'll use it for the next 30 minutes sort of in the broadest sense of the term. It's just that the way that we do it is very different. I mean, we're a creator economy in the true entrepreneurial sense of the word, which is if you're a creator on YouTube, contrast to the traditional model, you're betting on yourself, which is kind of the opposite of sort of the way that traditional media models have worked.

Well, you're going to own the equity in your podcast, right? And then a lot of people, and we started this business, I don't know, about 10 years ago, we started at WME called Talent Ventures, where a lot of musicians, actors, started, because you know, with the broadcast networks and cable channels ratings going down, you know, manufacturers had to get to the audience, and so they used to do it through commercials. When that rating went down, they started then giving equity or people started launching, you know, a lot of different products. Sometimes it was alcohol, sometimes it was perfume, sometimes it was food, etc. That will now start happening with people like you, other podcasters.

We just finished a big, we're finishing a big deal for The Office, which started a broadcast. The new stuff, they're buying out, yes.

Yeah, so you don't have this opportunity to do what, you know, The Simpsons did, to do what South Park did, to do what Seinfeld did, but you yourself are spending your-

I don't know, the last deal I just made for South Park's pretty good for the guys.

No, I know, but that seems to be the last generation to get that. This new generation seems to be just giving their IP over to Netflix. You yourself are saying, I want to own the IP, and you're choosing to buy them. So what is your advice to the clients? Because they can't become billionaires if they don't own IP.

I don't know what I can say about the new things, but definitely the big use case that big, completely new experience was in the gaming space where Fortnite, so Epic Games, game Fortnite, launched Darth Vader which people and players could interact with live, in partnership with the state, in partnership with Disney. So every player after reaching a certain stage could have a Darth Vader interact and help you solve the missions. And we are seeing that kind of mode coming up more and more often of how you can effectively extend your likeness, your, like you said, live publicity into interactive use cases, bring it across the world together. So that was exactly that model. And now we are working on one of the public ones, Headspace.

We just finished a big, we're finishing a big deal for The Office, which started a broadcast. The new stuff, they're buying out, yes.

Yeah, so you don't have this opportunity to do what, you know, The Simpsons did, to do what South Park did, to do what Seinfeld did, but you yourself are spending your-

I don't know, the last deal I just made for South Park's pretty good for the guys.

No, I know, but that seems to be the last generation to get that. This new generation seems to be just giving their IP over to Netflix. You yourself are saying, I want to own the IP, and you're choosing to buy them. So what is your advice to the clients? Because they can't become billionaires if they don't own IP.