YouTube Music is already subscribed to by 50 million users

The YouTube platform has reached a big milestone with its music streaming service. While the company announced in October last year that YouTube Music had exceeded 30 million subscribers, it has now officially reached 50 million subscribers. This makes it the fastest growing music streaming service. According to the Android Headlines portal, up to eight percent of people worldwide currently pay for it.

Although YouTube did not say how much it earns from this number of subscribers, Robert Kyncl, the company’s chief sales officer, indicated that they had reached the milestone sooner than expected.

Google has tried several paid music services over the years

Google has been playing with the idea of ​​launching a paid music streaming service for years and has tried several products over the last decade. YouTube Music had several shortcomings since its inception in 2018, but today it is at the forefront of competitors such as Spotify and Apple Music. The company even recently decided to install the YouTube Music app as the default music app for millions of Android smartphones.

The number of subscribers is growing rapidly every year, but ad revenue is still very important to YouTube

But even though YouTube is gaining more and more subscribers, it still relies heavily on ad revenue. The company reportedly earned more than $ 7 billion in advertising alone last quarter. This is 84% ​​more than gained over the same period last year. According to YouTube Music Global Director Lyor Cohen, both sources of revenue are very important to the platform.