Big growth for YouTube Premium subscribers – but in the U.S.
The trend in people looking to make the jump from the free versions of YouTube and YouTube Music to the paid versions seems to continue, even as more services are competing in the space.
YouTube Premium, the $11.99 subscription streaming service offering movies, TV shows and music, is projected to reach 23.6 million subscribers this year, which is up 18% over 2020, according to new estimates by eMarketer.
The US made up 67% of YouTube Premium subscribers worldwide in 2020, as Alphabet reported. This share is down slightly this year because of international expansion of the subscription service. Overall, the US makes up 48% of YouTube’s global net ad revenue.
According to eMarketer, while 2020 saw a high growth rate of 34.6% over 2019, growth will slow to single digits in the years to come. But despite this slowdown, YouTube Premium’s US subscribers are projected to surpass the 25 million mark in 2022.
YouTube Premium and Music now have 50 million subscribers combined
YouTube has announced that it has crossed the milestone of 50 million users subscribed to or trying YouTube Music and YouTube Premium, which is a marked increase from the 30 million subscribers it reported in December 2020.
“You’ve heard me say it many times: YouTube’s twin engine growth across ads and subscriptions is fueling our goal to become the music industry’s number one driver of revenue. We recently announced that YouTube has paid out $4B to the music industry in the past 12 months“, Lyor Cohen, Global Head of Music, wrote in a blogpost.
”Today I’m excited to announce another milestone across our subscription business: YouTube has surpassed 50 million Music and Premium subscribers, including trailers, and is the fastest growing music subscription service out there (MiDIA).”
YouTube Music Premium costs $9.99 a month and lets users listen to and download ad-free music. YouTube Premium goes for $11.99 a month and gives subscribers access to all of the benefits of YouTube Music, with the ability to also download and watch regular videos ad-free.
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