You need to know: YouTube has reached 80 millions Premium and Music subscribers. This is due to the platform’s new features for users and its partnership with music industry partners.
YouTube Premium Music and Premium celebrates the addition of 30 millions subscribers, marking a new milestone.
YouTube reports that the company has reached 80 one million subscribers worldwide for Premium and Music. This is an increase from 50 millions subs a previous year. Lyor Cohen (Global Head of Music at YouTube) discussed the accomplishment in a newsletter.
Cohen explained how YouTube’s success at attracting more subscribers to its Premium service, and how it affects users. YouTube Premium provides music and a completely ad-free streaming experience. Premium now offers new features like afterparties and discounted hardware on the latest Google products.
YouTube also collaborated with industry partners to provide users an extensive 100million song collection to use on YouTube Music. It has established relationships with SoftBank in Japan and Vodafone in Europe. LG U+ in South Korea is also part of its offering Premium and Music through Google One.
” I am humbled and proud to announce that we have reached more than 80 millions subscribers on YouTube Music Premium and YouTube Music Premium.” said Cohen. We have been hard at work, along with our music industry partners to make YouTube the best platform for artists and fans. Today’s news is a significant milestone on that journey. We aren’t stopping there. We have much more to do, and we look forward to contributing to the growth of the music industry. “
Reaching 80 one million subscribers is an amazing feat. However, it still falls short of Spotify’s 195 millions paid subscribers. YouTube Music is still one of our favourite music streaming services. It has a large collection of songs and seamless access to YouTube videos. Google continues to improve the user experience by adding features such as seasonal replays and improved social sharing.
YouTube’s Global Head of Music praised YouTube’s subscription and ads, calling them “twin engines of revenue.” YouTube’s Q3 earnings were flat. Many advertisers pulled away from YouTube. YouTube Premium recently raised the price of its family plan in the United States by $5. Similar increases were seen in other countries. YouTube will continue to refine its subscription-based services in the future, as it turns seven years old. YouTube will keep “putting the user first” by offering a wide range of content formats, including long-form videos from its creators as well as its short-form Shorts content. This is a way for YouTube to keep its “own lane” and continue to differentiate itself.