YouTube has crossed 50 million Music and Premium subscribers, including trailers, Google has announced. The Google-owned video platform had reported that it crossed 30 million subscribers in December 2020.
YouTube didn’t provide a breakdown in terms of the 50 million number, including specifying the number of users who are subscribed to YouTube Music or Premium and those that are using the services’ free one-month trial.
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Lyor Cohen, Global Head of Music, deeming Music and Premium subscriptions are key pillars of YouTube’s monetisation said, “ YouTube is the fastest growing music subscription service out there,” citing a report from research firm MiDIA.
As per the report, Google was the fastest-growing music streaming service in 2020, growing by 60 per cent. Markets such as India have witnessed an “impressive” growth, according to Cohen.
“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,” Cohen said. “We’re also investing in new features and exclusive benefits for our members,” he added.
Package price
Priced at ₹99 a month in India, YouTube Music Premium lets users listen to and download ad-free music. At ₹129 a month, YouTube Premium apart from providing access to YouTube Music Premium features, provides users “uninterrupted, ad-free access to all content on YouTube and YouTube Music.”
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Premium subscribers can also play videos in the background while using other apps on their phone or even when their phone is locked.
YouTube, in a blog post in June this year, had said that it had added more paid members in Q1 FY21 than in any other quarter since launch, without providing the exact numbers. Most recently, the company last month announced the launch of the YouTube Shorts Fund, a $100 million fund for creators distributed over 2021-2022.