Labels did rather nicely out of YouTube

Om Malik offers a juicy little dollop of information in his thoughts on Warner being kicked off (rather than walking) from YouTube:

All record labels got a piece of YouTube right before the company was sold to Google in October 2006 — a stake that translated into about $50 million each. That’s $25 million a year for 2-year contracts.

If Malik's figures are right, you might want to ponder how much of those millions found their way into artist's pockets; and if it is less than none, does that mean that the labels were making money from online video at the expense of the artists who created the music? And if that's the case... doesn't that make them a little what's the word? hypocritical?