This month, YouTube has successfully surpassed 80 million Music and Premium subscribers globally, including those in trials. This is a 30-million-member increase from 50 million the company announced last year.
In September, YouTube announced a $6B revenue contribution to the music industry, with 30% coming from user-generated content, and has now reached this milestone by building a subscription service or what is known as the YouTube’s twin engine of revenue – subscriptions and ads.
Aiming at becoming the #1 contributor of revenue to the music industry by 2025, YouTube has monetized all music formats (short & long form video, audio tracks, Live etc.), on all platforms in over 100 countries. YouTube offers fans the ability to discover music and participate with music all in one place.
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According to a press article, here’s how they reached this recent milestone;
- YouTube Premium: YouTube Premium includes everything of YouTube and YouTube Music, ad-free and playable in the background or offline on your mobile device or TV. And now they’ve taken it a step further with features like afterparties, which provide exclusive access to livestream content as well as discounts on Google’s latest hardware and services.
- Putting the fans first: YouTube Premium allows users to immerse themselves in their favorite content. And when they enjoy music, they assist them in going deeper. They encourage users to download videos or engage in lengthy listening sessions on the YouTube Music app, which has over 100 million official songs as well as a vast collection of live performances, remixes, and diamonds in the rough deep cuts. Premium makes it even easier for fans to experience all of their favorite music formats, including long-form music videos, short-form music videos, livestreams, podcasts, and more.
- Meaningful Global Partnerships: They recognize the value of collaboration. They have also formed alliances with companies such as Samsung, carriers such as SoftBank (Japan), Vodafone (Europe), and LG U+ (Korea), and Google services such as Google One with the debut of YouTube Music and YouTube Premium. These partners were crucial in assisting them reach this 80 million subscriber milestone and will continue to help us in improving the music experience for fans worldwide.
- Test, Learn, Repeat: They’ve been in the subscription business for seven years and are still learning as they go. They know we can do better, and they never lose sight of that. It always starts with the user, and they’re learning what makes them want to join the party. Billions of music fans come to YouTube every month; the opportunity humbles them.
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