Google, for the first time, revealed how many users are paying for YouTube Music and YouTube Premium. Lyor Cohen, Global Head of Music at YouTube, wrote that YouTube crossed 50 million Music and Premium subscribers, including trials.
Google has over 2 billion users watching music videos monthly, that Google monetizes mainly with ads. YouTube premium subscribers do not see any ads, and are more difficult to reach by advertisers.
In June, this year, Cohen announced that in the last 12 months, YouTube paid out $4B to the music industry, and 30% is from user-generated content (UGC).
“The unique offerings of YouTube Music and Premium are resonating in established and emerging music markets alike. We’re seeing impressive growth in countries like Korea, India, Japan, Russia & Brazil where music is a top passion,” said Cohen.