YouTube Premium & Music Subscribers Top 50 Million
YouTube’s paid services have hit an important milestone, with 50 million people now subscribed to YouTube Music and YouTube Premium (formerly YouTube Red), including free trials.
The Google-owned platform is the fastest growing music streaming service according to MiDIA, with Google services now holding eight per cent of the music subscriber market.
According to YouTube’s Global Head of Music Lyor Cohen, YouTube Premium – which removes ads from the streaming giant’s videos among other benefits – and YouTube Music are “killer products” that offer unique value to creators and good experiences for audiences.
“The unique offerings of YouTube Music and Premium are resonating in established and emerging music markets alike.
“We’re seeing impressive growth in countries like Korea, India, Japan, Russia and Brazil where music is a top passion,” he said.
YouTube’s 50 million subscribers figure is still a far cry from Spotify’s estimated 165 million, and the number subscribed to its Music service specifically is likely smaller still, given YouTube did not release a specific breakdown of Premium video subscribers versus Music subscribers.
Spotify holds 32 per cent of music subscriptions, followed by Apple Music at 16 per cent and Amazon Music at 13 per cent.