YouTube are celebrating. They’ve recently hit 100 million paid subscribers. This is likely down to the class of their rival, TikTok, with the large music company Universal Music.
During Grammy Week in Los Angeles, there’s been a buzz about the clash between a popular video platform and the music industry’s biggest rights holder. On the flip side, another video-born platform is basking in the glow of success with the music industry.
YouTube, the home of Shorts, a competitor to TikTok, has hit a massive milestone. 100 million paid subscribers for YouTube Music and Premium worldwide. YouTube Music offers a standalone subscription or can be bundled with YouTube Premium.
This achievement marks a significant increase from the last reported figure of 80 million subscribers in November 2022. The huge rise was likely sparked due to the availability increasing worldwide. More users are able to access the platform.
With availability in over 100 countries and regions and plans for further expansion in 2024, YouTube’s Global Head of Music, Lyor Cohen, spoke about the platform’s positioning. He spoke during the market during discussions with MBW in Los Angeles.
Cohen emphasised YouTube Music‘s commitment to supporting the music industry. Highlighting the platform’s deep and collaborative relationship with industry partners. He stressed the importance of listening to partners’ feedback.
This led to the development of the subscription business alongside the advertising model. Universal Music Group‘s Chairman and CEO, Sir Lucian Grainge, praised YouTube’s achievement, acknowledging the platform’s efforts in driving innovation.
While also contributing to the global music ecosystem. As YouTube continues to grow and evolve, its dedication to the music industry remains unwavering, solidifying its position as a key player in the world of music streaming.
