Technology

The number of YT Music and Premium subscriptions surged by 30 million in one year! Musk also wants to introduce the feature of long movies?

YouTube recently announced that as of September this year (2022), the total number of subscribers to YouTube Music and Premium paid plans worldwide has exceeded 80 million, a growth rate of more than 60% in just one year, which also makes YouTube hopeful Become one of the top music streaming platforms.

YouTube stated in a blog post on November 9th that YouTube Music and Premium paid subscribers have exceeded 80 million, although it still includes users in trial, but compared with 50 million in September last year, users The number has increased by a full 30 million people, which is quite a significant growth rate. Currently, YouTube ranks about fourth among all paid music platforms in terms of scale, after Spotify, Apple Music and the China-only Tencent Music service.

In the past, YouTube had disputes with the music industry due to lower copyright fees. In order to improve this situation, YouTube has launched YouTube Music and Premium subscription services since 2018, and is committed to becoming a partner of the music industry. The company stated that YouTube has paid more than US$50 billion to creators, artists and media companies in the past three years. Among them, from July 2021 to June 2022, YouTube has contributed US$6 billion in revenue to the music industry. into user-generated content.

Why is the number of YouTube subscribers soaring?

YouTube music director Lyor Cohen (Lyor Cohen) said that there were many misunderstandings between the platform and the music company in the past, so he chose to shuttle between the technology industry and the music industry to listen to and understand each other’s voices. Although the music industry still believes that there is a gap between the current royalty income and their expectations, compared with 10 years ago, people’s concept of music royalties seems to have changed a lot, just like Rob Kinzo, the former business chief of YouTube (Robert Kyncl) told Bloomberg that the subscription system is a win-win model that allows both platforms and music companies to make money and succeed.

However, the main reason why YouTube can get so many users in a short period of time may be what Cohen called a “long-term cumulative effect”, which is that people are tired of the free version of YouTube, such as not being able to skip ads or watch offline. , to enhance the service experience of the platform.

For example, YouTube Premium uses no ads as the core basis of the subscription plan, as well as offline viewing, plus the background playback function that can be used when the mobile phone screen is turned off or operating other software, creating a platform that allows users to watch wherever they are. Friendly environment for YouTube videos. In addition, if there is a need to listen to music, being able to use the service of YouTube Music together is also one of the advantages of subscribing to YouTube Premium. Users do not need to pay extra to subscribe to other streaming music platforms to enjoy various music and become an audio-visual service. One-stop platform.

New Zealand science fiction writer Eliot Peper and well-known publisher Kevin Kelly also mentioned in their personal Twitter posts recently that YouTube Premium is the best subscription service and will change own life.

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As mentioned earlier, YouTube hopes to be a good partner of record companies. Regarding how to make music creators stand out from the hard-to-calculate choices, find fans who like themselves, and interact with fans, YouTube’s subscription and like functions simplify Originally complicated procedures; and the emergence of short video and video Shorts also allows artists to have two-way interaction with fans without having to stay online all the time.

On the other hand, fans can also watch high-quality music performances and interviews on YouTube. Through these audio-visual content to deepen the relationship with fans, artists can focus on the production of songs or content. YouTube, which has introduced a dual-track system of advertising and subscription revenue, has made many record companies pay more attention to operating subscription-related businesses instead of advertising.

Elon Musk, who recently became the boss of Twitter (Twitter), also seems to be interested in YouTube’s creator operating income model. He said in an interview on the 4th that he is considering introducing long-form videos to Twitter. feature, and allow creators to profit from it, “saving” the music industry.

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