YouTube Music and Premium announced today that it has hit a major milestone for the platform’s music streaming goals, surpassing 100 million members (including trial users). This number, which is accurate as of January 2024, represents a 20-million-member growth in just over a year, according to Lyor Cohen (Global Head of YouTube Music).In 2015, YouTube Music was launched with the goal of giving music lovers a one-stop-shop for all their music needs, including ad-free listening, offline capabilities, and access to music videos. As a result of feedback from the community and changes in the industry, the service underwent several changes throughout the years. As part of this evolution, YouTube Music rebranded, expanded to more countries, and added new features — some of which include podcast integration, AI-powered music discovery tools, and better video playback.
Lyor Cohen, Global Head of Music at YouTube, sending thank you letters to all hundred million subscribers
In his celebratory announcement, Cohen focused on the milestones and features that have taken the platform to where it is now. Reminiscing about its shaky beginnings, Cohen attributes this growth to the features that were integrated within the Premium model that were once considered too different or too risky to try out — such as blending music streaming with various video formats. He also spoke to the introduction of AI-powered features, such as conversational video tools and comment summarization, as a draw for new subscribers that see YouTube Premium as hub for exploring new tech advancements in the music industry.
YouTube puts great emphasis on its $6 billion contribution to the music industry within a year, reaffirming its commitment to artist and fan value. They see AI-assisted creative tools and seamless content integration as essential drivers of a successful future for both parties.
However, looking ahead, YouTube will undoubtedly face further competition in the crowded music streaming scene. Its future success will most certainly be determined by its ability to convert more trial users into paying subscribers while keeping the same unique formula that they have found this success with.
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