2024-02-02 15:44:00
O YouTube Music has become the second largest music streaming service in the world. According to the platform, it reached the mark of 100 million signatures in service. To celebrate the record, YouTube’s Global Head of Music, Lyor Cohen, was the protagonist of a Shorts regarding the news, and he also shared a letter of thanks. Check out an excerpt:
Today, thanks to your partnership, we’re celebrating: YouTube has surpassed 100 million Music and Premium subscribers, including trials (as of January 2024). This growth of 20 million members in just over a year reinforces our dual advertising and subscription revenue engine. YouTube Premium’s global expansion continues, now thriving in more than 100 countries and regions, with more on the horizon for 2024.
In the letter, the executive also mentioned some reasons why he still sees room for growth. One of these reasons is due to the amount charged by the platform to offer its services, enabling use without ads and other attributes such as downloading tracks or listening to them in the background, in the case of YouTube Premium.
Music, in turn, now brings greater integration of music streaming with long and short videos. Likewise, Lyor highlights the “Discoveries”, the possibility of creating a radio and also the use of generative artificial intelligence to be able to generate covers for the playlists created in the application.
Still on AI, he also stated that users of YouTube’s Premium model can access new features first compared to other users. This technology can be used by artists themselves to find out what their fans like to see. Finally, Lyor talks regarding the current situation in the music industry, the investment of US$6 billion in the sector in the last 12 months and the chance to make music continue to prosper in the future.
More regarding YouTube Music: see the tests of the new design for the main player menu on iOS and the arrival of the play counter in songs, among other new features.
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