YouTube has officially topped more than 20 million paid subscribers, Google revealed in a rare report on the service’s revenue stats. The subscribers are a combined amount between YouTube Music Premium and YouTube Premium.
YouTube Music Premium is $9.99 for an ad-free music service. Add $2 and YouTube Premium includes all video content across the service.
Compared to giants like Spotify, Apple Music and Amazon, 20 million subscribers might seem like a pittance. Especially when you consider how many failed attempts Google has had getting its users to pay for additional features on a service that has been free for over a decade.
Still, the service’s paid subscription platform is showing significant growth.
Reports Variety, “YouTube had $15.15 billion in ad revenue for 2019, up 36% from the year prior, according to Alphabet. For Q4 2019, YouTube advertising sales were $4.72 billion, a 31% year-over-year increase. YouTube’s ad revenue in 2019 was close to double over the prior to years (vs. 2017 ad revenue of $8.15 billion).”
The report was released as “a signal to investors that the company believes it has more runway to boost subscription-service revenue.”
The basic YouTube service will remain free for the foreseeable future, though more paid content will continue to be added to Premium throughout the year.
via Variety via youredm