Do you know about youtube premium? If yes, then you must know how its works. No doubt, the past few months have witnessed remarkable growth in subscription revenue for several OTT and online music platforms.
When it comes to Google’s YouTube platform, no surprise, they have got a huge subscription amount in between these 18 months. In 2014, YouTube launched its premium subscription services, and the report says now it has paid subscriber base of more than 50 Million which is a great achievement for YouTube.
The exceptional growth of YouTube premium subscription numbers
According to a report, the premium subscription numbers suddenly grew from 30 million to 50 million in between just 9 months. Though the 50 million is not the exact number as YouTube still has not confirmed this number, there is a remarkable growth in YouTube’s paid subscription. The premium service usually gives ads-free video content to the users on the YouTube platform.
Statement of Lyor Cohen regarding the 50 million user base
According to Lyor Cohen, the Global Head of Music at Google says: He is very excited and happy to announce that the YouTube subscription business crosses 50 million user base, which is unbelievable, and achieved this record within 9 months only.
The uniqueness of YouTube premiums Music stands out, and that’s why countries like Korea, Japan, India, and Brazil are now very much passionate about top-class music.
According to research, it’s confirmed that YouTube also paid over $4 billion to the music industry in the last 12 months in terms of royalties. The royalty pay amount is very high from YouTube, and it definitely pays more than Spotify music platforms.
Cohen about the Royalty Fees
Cohen also added in his statement that they had spent $4 billion are only for artists, songwriters, and right holders, of which 30% has come from UGC. According to him, because of fan-powered videos, many artists are growing their audience, promoting music worldwide.
He further said that YouTube’s paid subscription is ads-free now, but the videos are actually supported by ads in 180 countries where users have been given a choice to watch ads or not. No doubt, ad revenue matters a lot where 2 billion users watch music videos monthly; however, YouTube always permits advertisers a huge reach.
Final thoughts regarding the achievement of YouTube
Though there is no particular reason, or we are also not sure the reason behind 20 million huge spikes of subscribers in very few months, but it’s definitely an eye grabber news for all the readers who notice the 30 million user base count when Google was shutting down its Play music service.
No doubt there is no such valid information regarding how many users it had, but Google Play and YouTube have claimed a subscriber base of around 15 million in 2019. Let’s see how YouTube premium subscription is growing in the future; hopefully, YouTube will achieve another huge record next year for sure on its premium subscriber base.
Also Read: Apple delays child protection features.
