Cyber-wellness Means Cyber-awareRead more Addressing maternal mental healthcare in AfricaRead more Qatar v. Ecuador to kick off FIFA World Cup 2022™ on 20 NovemberRead more Webb Fontaine Announces Launch of Niger National Single Window (NNSW) to Bolster TradeRead more Ethiopia: Loan from United Nations Fund Allows Food and Agriculture Organization (FAO) to Scale Up Fertilizers for Farmers in TigrayRead more How Choosing the Right Printer Helps Small Businesses and Content Creators to Save Time, Maximise Productivity and Achieve GrowthRead more The United States Contributes USD $223 Million to Help World Food Programme (WFP) Save Lives and Stave Off Severe Hunger in South SudanRead more Eritrea: World Breastfeeding WeekRead more Eritrean community festival in Scandinavian countriesRead more IOM: Uptick in Migrants Heading Home as World Rebounds from COVID-19Read more

YouTube Music tops 50 million subscribers

show caption
YouTube's music streaming service says it is growing quickly as it tries to catch up with rivals like Spotify./AFP
Print Friendly and PDF

Sep 03, 2021 - 09:25 AM

SAN FRANCISCO — YouTube’s music streaming service reported Thursday it now has more than 50 million subscribers, saying it is growing quickly as it tries to close the gap with market-leader Spotify.

YouTube Music trails rivals Spotify, Amazon and Apple but has been gaining ground, according to market tracker Midia Research. YouTube is a subsidiary of Google.

“Google’s YouTube Music has been the standout story of the music subscriber market for the last couple of years, resonating both in many emerging markets and with younger audiences across the globe,” Midia analyst Mark Mulligan said in a post.

“The early signs are that YouTube Music is becoming to Gen Z what Spotify was to Millennials half a decade ago.”

Spotify had 32 percent of the global music streaming market in the first quarter of this year, while Apple Music accounted for 16 percent and Amazon had 13 percent, according to Midia.

YouTube Music accounted for eight percent, behind China-based Tencent with its 13 percent share, Midia reported.

“We’re seeing impressive growth in countries like Korea, India, Japan, Russia and Brazil where music is a top passion,” YouTube global head of music Lyor Cohen said in a letter about passing the 50 million subscriber milestone.

“The unique offerings of YouTube Music and Premium are resonating in established and emerging music markets alike.”

The overall number of streaming music service subscribers climbed more than 19 million to a total of 487 million in the first quarter of this year, according to Midia.

YouTube Music was the fastest-growing music streaming service last year, as its ranks of subscribers grew some 60 percent, said Mulligan.

“We’re in our own lane — there’s no other place where fans can get uninterrupted access to the largest and most diverse catalogue of music, artists and culture,” Cohen said in the letter.

“We’re making it easy for music fans to go deep and find their thing.”

YouTube said in June that it paid more than $4 billion to the music industry during over the prior 12 months.

ZONNTECH.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.