In September 2021 Google had stated that YouTube Music had reached 50 million subscribers faster than expected. In a new market analysis report released this week, it reveals that Big G’s music service grew 50% over a 12-month period with strong interest from Generation Z.
The use of YouTube Music continues to grow, especially among young people
Second Midia ResearchYouTube grew more than 50% from Q2 2020 to 2021. Google’s service was also the only Western streaming service to increase its global market share during the reporting period.
Of the 523.9 million music subscribers (up by 26.4% on an annual basis) at the end of Q2 2021, 8% are using YouTube Music. Unsurprisingly, the highest altitude belongs to Spotify with 31%, even though that number has steadily declined from 34% in the second quarter of 2019. It follows Apple Music with 15%, Amazon and Tencent with 13%.
The report states that YouTube Music is especially used by Millennial (born between 1981 and 1996) and the Generation Z (born between 1196 and 2010).
There is a difference between revenue and subscribers , such as the rise of multi-user plans and the growth of low-cost emerging markets. But monetized user growth is the cornerstone of digital service provider streaming.
Meanwhile, Google, with a test limited to users in Canada for now, is preparing to offer background listening to users on a free basic plan with the availability of audio only and making the videos available only for premium users ( here for more details).
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