Google has just said that it has 50 million users subscribed to YouTube premium and music. It is a marked increase from 30 million subscribers, which were in 2020. The 50 million subscribers include people paying for the YouTube music and the premium version, which offers music as part of their subscription, and those consumers who are on the free trial of the YouTube Premium. It is amongst the fastest growing music subscription service, said the music chief Lyor Cohen.
YouTube and its Competitors
Although the 50 million milestones are still smaller than Spotify, which had 165 million premium users as of June 2021, Apple had not divulged the music subscriber numbers since June 2019, when it had 60 million subscribers. Amazon also had 55 million music consumers in January 2020. Although with all these competitors, YouTube is still fast-growing and a major force in music streaming.
Why is YouTube the fastest growing platform?
YouTube has had success in emerging markets, which are challenging for companies such as Amazon and Apple. But since YouTube has always been known as the most popular video service provider globally, it has a funnel to convert customers who want to get rid of ads or are eager to listen to songs even when they are not connected to the internet.
If you haven’t tried the premium version of YouTube, you will be missing various things. With YouTube premium, you can enjoy millions of videos and songs in YouTube music without any advertisements. You can download countless songs and videos to your device and watch or listen to them even when not online.
What are the features of YouTube Premium?
We all have wished for YouTube to have the feature of when we close the YouTube application and it should run the music in the background, in the YouTube premium, you can use the background to play music while you are using other applications on your phone. Another great benefit of YouTube premium is that you can turn on audio-only mode to listen to music without loading the video. You can get a 30 day free trial of YouTube premium where you can enjoy these features.
Music creators and other content creators always had the advantage due to YouTube as they can upload their videos or music and get viral. Under Cohen, YouTube has been in the search for other promotional tools, including new products for artists where they can host live premieres of their videos and interact with their fans in real-time.
