YouTube Boasts Highest Premium Subscription Mark In Its First Quarter Having Music Artists Generate Over $4 Billion Last Year From Paid Customers Alone

YouTube is better known for creating and viewing amazing content from all over the world and with its excellent monetizing strategies, it gives birth to millions of creators generating revenue daily. Amongst its mesh of content, music has proven to have one of the largest audiences and has the lion’s share in YouTube’s annual capital. YouTube takes pride in being the leading visual-audio platform at the moment and is the foundation for striving artists.

According to Lyor Cohen, Global Head of Music, YouTube paid $4 billion to creators worldwide. He also claimed that YouTube got the opportunity to add the highest quota of premium members in Q1 than ever - since its launch!

The twin-engine growth support system that YouTube has recently established consists of money-making strategies through subscription tiers in more than 96 counties and free-ad tiers in 180 countries. This approach has indeed benefited the platform and helped reach its heights. Another thriving aspect of YouTube is its User Generated Content (UGC), with over 2 million users watching music content alone.

User-generated content has contributed wholly to the platform by producing around 30% of the revenue. UGC includes both, creative content makers and devoted fans that create wholesome content for millions of viewers worldwide. Through these relatable contents, YouTube has become one of the most influential and meaningful bases to create music as well as money and the credit indeed goes to UGC more than infamous artists and labels. Now we can understand why YouTube claims UGC to be the most meaningful source of revenue with the equal importance given to them as premium music content.

Many artists claim how YouTube's flexible policies and freedom are the reason why it is so successful with a thriving music industry as well as an ever-growing audience. Both visual and audio content creators have taken to this base to showcase their talent and address various audiences, reaching a much larger base.

Where virtual concerts seem to be shaping the world, especially with the ongoing pandemic, YouTube has been an active base for these concerts catering to artists worldwide. Maroon 5, Adam Lambert, and Justin Bieber have all pitched in, selling a hefty amount of tickets but nothing can be compared to the 280k channel memberships sold by BlackPink for their virtual concert, 'THE SHOW', conducted on 31st January 2021. The Korean girl band reached 81 different countries and managed to secure an insane amount of 2.7 million new subscribers. As one of the rising artists, we have to admit this is a pretty great feat.

Seeing how YouTube saw a reach of 74% last year and was reportedly downloaded 6.7 million times this year, we wouldn't be wrong to crown the platform as the leading growth site.

We look forward to seeing both YouTube and artists prosper and generate even more revenue while building the foundation of visual audio content worldwide.

Photo: SOPA Images via Getty

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