February is a month of celebration at YouTube as the company officially announced that YouTube Music and Premium has crossed the 100 million subscriber milestone (including trials), via their official company blog.
YouTube’s Vice President of Product Management Adam Smith wrote about the achievement this week:
“In 2015, we believed that there was an appetite for a YouTube experience that benefited not only our users, but the creator and artist community as well, and we announced a new subscription service alongside a brand new app, YouTube Music. This offering was designed for music lovers and YouTube fans who wanted more choice in how they spent time on YouTube, allowing them to enjoy YouTube without interruptions, background play and downloads, and a full music service with the world’s largest catalog. Along the way, we learned a lot, made a few pivots (and even rebranded), expanded our offerings and plans, and made YouTube Music and Premium available in over 100 countries and regions.”
In a separate post, YouTube’s Global Head of Music Lyor Cohen thanked everyone for helping them surpass the 100 million mark:
“This 20-million-member growth in just over a year underscores the strength of our twin engine of advertising and subscriptions revenue. YouTube Premium’s global expansion continues, now thriving in over 100 countries and regions with more on the horizon in 2024.”
Cohen also spoke about the music industry’s critical point and how harnessing technological innovation to drive unprecedented value for artists and fans can continue to build momentum and have a profound impact on the industry.
Cohen mentioned leveraging AI and bridging short-form and long-form content.
As the streaming industry continues to evolve and, in many instances, face challenges in profitability, a win at YouTube is a good sign that the industry can still see some success despite some heavy blows to the likes of Twitch this year.