0 To 50 Million: The Rise Of YouTube Music

Good service conditions are never free of charge. So, if users want to enjoy listening to music without ads, a paid subscription can solve the problem. YouTube’s global head of music, Lyor Cohen, announced that the service has over 50 million subscribers. This number includes the trialists but not the free ones. Interestingly, last October, the number was 20 million less than today.

A post shared by YouTube (@youtube)

Despite the enormous success YouTube gained, Spotify is the leader in the global market, with 165 million paid subscribers. The second place goes to Apple Music, with 60 million subscribers announced in June of 2019. Then go Amazon Music, and its 55 million paid subscribers; the last update of this information was made in January 2020.

YouTube Music growth is connected with the subscribers’ rise in South Korea, Japan, Russia, India, and Brazil. “We’ve got killer products in YouTube Music and YouTube Premium that deliver truly unique value to artists and creators and the best experience for music fans and video lovers,” wrote Cohen on his social media.

RELATED: Kickin’ It: How Blackpink Became The Most Subscribed Band On YouTube

Yet, when YouTube started working with record labels, it faced criticism related to copyright issues and low royalty rates. Nevertheless, in collaboration with other prominent platforms, like Universal Music, Warner Music, Believe, and Hybe America, YouTube made the music service successful.

“This is indeed great news for Artists and Labels to better monetise their content,” said Denis Ladegaillerie, Believe CEO to Variety.

To listen to music on YouTube without ads and to be able to download it costs $9.99 a month. Or, to watch ad-free videos and download them in addition to music, it costs $11.99.

A post shared by YouTube (@youtube)

YouTube Music has existed since 2018, and today, it holds 8% of the world’s subscribers. Although its competitors outstrip the platform, YouTube plays a crucial role in promoting the music business. As Cohen mentions, the platform has paid $4 billion to the music industry in the past year. In addition, it has paid more than $30 billion to over 2 million video producers through merchandise and ads for the last three years.

So YouTube seems to support the music industry a lot. “Congratulations to YouTube on achieving this milestone. YouTube has enabled our artists to reach global audiences and connect with their fans, especially amidst the global pandemic,” said Lenzo Yoon, the CEO of HYBE America.

NEXT TO READ: Flamboyantly Sporty: Bruno Mars Launches The Ricky Regal Collection With Lacoste

Sources: Variety.com, Musicbusinessworldwide.com, Blog.youtube.com

Source: Read Full Article