a program Youtube You’ve reached a big milestone with your music streaming service. While the company announced in October of last year that YouTube Music had crossed 30 million subscribers, it has now officially reached 50 million. This makes it the fastest growing music streaming service. According to the gate Android titles Up to eight percent of people worldwide are now paying for it.
Although YouTube did not say how much it earned from this number of subscribers, Robert Kinkel, the company’s chief sales officer, noted that they hit the target sooner than expected.
Google has experimented with many paid music services over the years
Google has been toying with the idea of launching a paid music streaming service for years and has experimented with several products over the past decade. YouTube Music has been suffering from many shortcomings since its inception in 2018, but today it is ahead of competitors like spotify and Apple Music. The company recently decided to install YouTube Music as the default music app for millions of Android smartphones.
The number of subscribers is increasing rapidly every year, but advertising revenue is still very important for YouTube
But even though YouTube is gaining more and more subscribers, it still depends heavily on advertising revenue. The company reportedly earned more than $7 billion from advertising alone in the last quarter. This is 84% more than the same period last year. According to global director of YouTube Music, Lior Cohen, both revenue sources are very important to the platform.
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