The paid services by YouTube have been growing their subscriber count and in the third quarter of 2020, it has reached 30 million subscribers to YouTube Premium and Music Premium. Now, according to Bloomberg, YouTube has reached an important milestone: it now has over 50 million subscribers to its paid services.
YouTube Music Premium and YouTube Premium currently have more than 50 million subscribers
The figure above includes both YouTube Music Premium subscribers and subscribers to the broader YouTube Premium service, which allows users to enjoy videos ad-free. This number also counts in the people who are still in a trial period. The company has not disclosed how much revenue it is making from these subscribers or the average price subscribers pay for its services.
Google has been trying to launch a music subscription plenty of times in the last decade with several different products and names without much success, but it now seems YouTube has finally found the way to offer a Spotify-rivaling service in the name of YouTube Music. Currently, YouTube is found to be the fastest-growing paid music service in the world, according to Midia Research. It now has 8% of the world's subscribers; however, Spotify still holds the title of the king by a wide margin.
YouTube reported sales of $7 billion in the most recent quarter, and that marks the staggering 84% growth from last year. YouTube's global head of music Lyor Cohen, hired five years ago to run its music business, has worked on building Google's subscription businesses. In its beginning in 2018, YouTube Music did not grow as much due to difficulties with which markets to invest in and others, but now, it has gained traction as a notable rival to Spotify and Apple Music.
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YouTube Music has been gaining new features and working on delivering a better user experience
Recently, we reported on a new feature YouTube Music has been working on, the possibility for you to search already downloaded songs from the search bar. Now, when you have downloaded songs to listen to offline, they will be more easily accessible in a tab dubbed "Downloads" when you search for music.
The new search feature that allows you to locate downloads directly from the search bar has been a highly-anticipated feature of YouTube Music. It is especially useful for people who mostly use the app in offline mode. Thanks to this feature, users will be able to find their favorite song faster.
Additionally, it has recently introduced a useful section called "Replay Mix", a playlist with your most-listened-to songs, quite similar to Spotify's On Replay playlist. The new "Replay Mix" playlist appears as a part of the “Mixed for you” section of the app.
It can be up to 100 songs long and gives you the endless autoplay option once you have reached the end. YouTube Music’s Replay Mix is situated next to the “My Supermix” playlist, which is found in the “Mixed for you” tab on the home page of the app.
However, not all news about YouTube Music has been of good additions to its features. Recently, we have heard the fact that YouTube Music won't be available on smartwatches running older operating systems than Wear OS 3. Although YouTube Music is available for the newest additions to the Galaxy smartwatch line: the Galaxy Watch 4 and the Galaxy Watch 4 Classic, if you weren't willing to upgrade your smartwatch, you won't be able to benefit from YouTube Music's streaming services.
On the other hand, YouTube Music's rival Spotify has recently announced it will be launching a revamped Wear OS app that will include offline listening, which is a brand-new feature to roll out to Wear OS smartwatches in the coming weeks, and the feature will reportedly work to older smartwatches as well.
Izzy, a tech enthusiast and a key part of the PhoneArena team, specializes in delivering the latest mobile tech news and finding the best tech deals. Her interests extend to cybersecurity, phone design innovations, and camera capabilities. Outside her professional life, Izzy, a literature master's degree holder, enjoys reading, painting, and learning languages. She's also a personal growth advocate, believing in the power of experience and gratitude. Whether it's walking her Chihuahua or singing her heart out, Izzy embraces life with passion and curiosity.
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