YouTube Music And Its Premium Service Are On A Roll With More Than 80 Million Paid Subscribers

It’s been a great year so far for YouTube Music. The app may have been up for grabs since 2015 and while many people don’t consider it to be major competition for archrivals such as Apple Music and Spotify, we’ve got news for you.

One year is all it takes to make all the difference in the world. 2022 was the year for YouTube Music and its Premium offering where nearly 30 million paid users were added since 2021.

This brought up the figure for paid subscribers to nearly 80 million in total after adding a staggering 30 million more this year. And that’s what you call major progress being made in no time.

Without a doubt, YouTube would be rejoicing. But it still lags behind the likes of Apple Music and Spotify when the subject of popular music apps is concerned.

But keeping that aside, the firm has really worked so closely with the industry to strike a balance that makes many parties happy.

A lot of credit goes to the company’s music chief, Lyor Cohen who really paved the way for the firm to make strategic partnerships with so many different music labels. This wasn’t only a firm that approached a label so it could receive a signed contract.

The end result was great relationships with YouTube paying the entire music industry nearly $6 billion from the period of July 2021 to June 2022. Let’s not forget how much effort YouTube puts into its advertising and subscriptions.

The firm has really gone one step ahead in terms of investing a lot in those that make the most on the platform- the creators. A lot of emphases was placed on the likes of creators for its super profitable Shorts program.

In September of last year, YouTube mentioned how it was now going to give creators on its Shorts program the chance to enroll in the app’s Partner Program. In this way, creators would monetize the content and generate revenue through ads. Then the latter would run during videos located on the Shorts Feed.

In this way, all creators would get the chance to keep about 45% of the share of the revenue made. Meanwhile, the app would be responsible for sorting out things like music licensing policies and giving creators the chance to run songs in their content that was popular and had copyrights for use.

In the same way, the company made an effort to reduce the threshold for all new creators on the app and even made a new tier on its famous Partner Program. Therefore, creators would be able to take advantage of things such as Super Thanks, Channel Memberships, Super Stickers, and more.

Any creator that wishes to make money through its Shorts videos would be able to start doing so as early as next year, the app revealed. All they need is to have at least 1,000 subscribers and around 10 million views in the past 3 months to avail of the offering.

Now, one huge benefit of this is linked to how YouTube has the edge over other apps in terms of being the biggest video platform around the world. On a daily basis, it can reach out to millions of people so as you can imagine, this could be the start of some great new things for the company.

For now, we know the app is busy celebrating as they’re ending the year on a high and they deserve every bit of the credit in the world for coming so far.

Read next: YouTube has added three new features to its platform for creators, including visual refresh to playlists on studio desktop
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