YouTube Hits 100 Million Paying Subscribers, Gains Industry Allies
YouTube has now amassed over 100 million paying subscribers collectively across its music-centric platforms, YouTube Music and YouTube Premium. The achievement has received acclaim from major players in the music industry, including Universal Music, Warner Music, Kobalt, BMG, Believe, TuneCore, ONErpm, YG Entertainment, T-Series, Beggars, IMPALA, and SACEM. This unexpected camaraderie highlights the platform’s evolution from once being perceived as the music industry’s adversary to now being embraced as a valuable partner.
Reflecting on the journey, Lyor Cohen, YouTube’s Global Head Of Music, shared his thoughts in a recent blog post, stating, “In 2015, many doubted a subscription model could thrive on YouTube. They said the market was crowded and our platform was too different. Today – 100 million subscribers later – our distinctiveness is precisely what drives our success and why I still see so much room for growth.”
The 100 million subscribers encompass users who have enrolled in either YouTube’s standalone music service or its broader premium product. The majority opt for YouTube Premium to enjoy ad-free content on the main platform. Interestingly, a YouTube Premium subscription also grants access to YouTube Music, although the exact number of subscribers utilizing this feature remains unclear. It’s important to note that the 100 million count includes those currently on a free trial.
In his blog post, Cohen emphasized the unique aspects that set YouTube apart from other music streaming services. “YouTube Premium is the only service where social engagement, music streaming, and all video formats converge seamlessly – all without interruption,” he stated, underscoring the platform’s commitment to providing an unparalleled and multifaceted user experience.
The news of YouTube’s substantial subscriber base is likely to reverberate across the music industry and beyond, prompting speculation about the impact on competitors and potential implications for emerging platforms like TikTok. As YouTube continues to redefine its role in the music ecosystem, the industry eagerly awaits further developments and innovations.
For more music industry news, click here.
To start your FREE trial of VELCOA, click here.