The 50 million figure includes users on a free trial period. (Photo: Unsplash)
San Francisco – YouTube congratulated itself on Thursday for having exceeded 50 million subscribers to its paid services, thus confirming its ambition to “become the first source of income for the music industry”, even if it is still a long way off leader Spotify and its 165 million paying subscribers.
“I repeat it often: YouTube’s two growth engines, ads and subscriptions, are critical to achieving our goal,” said Lyor Cohen, director of YouTube Music, quoted in a statement.
Google’s free video platform aggressively promotes its two paid offerings, YouTube Music and YouTube Premium, which cost US $ 10 and US $ 12 per month, respectively, to enjoy ad-free, offline, and background videos (i.e. say with other open applications).
The 50 million figure includes users on a free trial period.
“YouTube Music has made remarkable strides in the music streaming market over the past two years, conquering both emerging markets and young audiences around the world,” notes analyst Mark Mulligan of Midia Research, in a report. report relayed by the communication teams of Google.
“It looks like YouTube Music is becoming for Gen Z what Spotify was for millennials five years ago,” he adds.
Spotify had a 32% market share in the first quarter of this year, according to Midia, followed by Apple Music (16%) and Amazon Music (13%).
YouTube was in fifth position, with 8%, behind Chinese giant Tencent (13%), in a market of 487 million people.
Google’s service has grown the fastest, according to Mark Mulligan.
“There is no other place where fans have uninterrupted access to the world’s most diverse and extensive catalog of music, artists and culture,” said Lyor Cohen.
YouTube recently announced that it has paid out US $ 4 billion to the music industry in the past 12 months.
At the end of June, Spotify had 365 million active users, including 165 million paying subscribers.
Apple has not communicated the number of Apple Music subscribers since June 2019, when it indicated that it had crossed the threshold of 60 million paying users.