Music industry legend and now YouTube’s Global Head of Music, Lyor Cohen, just let Spotify know their reign as streaming king could be over soon. New stats say YouTube Music has been growing faster than Drake’s list of ex girlfriends.
Watch Out Spotify 👀
• YouTube paid artists over $4 billion in the last year via advertising and subscription revenue. That’s not far from Spotify’s royalty payments of $5 billion in 2020.
• At $9.99 per month, Youtube Music added more paid subscribers in Q1 of 2021 than any other quarter since its launch.
• Independent artists love how easy uploading content to Youtube is, plus the platform’s massive global audience is unmatched.
Last Thought 💭
While Spotify is beloved for the app’s quality curation and cool interface, YouTube could easily become the world’s most popular music discovery platform with access to Google’s data.
- Written by Kirk Reed
Fri, June 11, 2021