Music sets your mood and sometimes acts as the dose of inspiration for even a risky venture. And, there are some global leaders who are already cashing on the opportunity to not only get the profit but also to offer great music streaming experience to the users. Spotify is one such name that is in all its glory providing exceptional music streaming services with exceptional perks to the users.
To give a tough competition to its rival, YouTube is setting its cord the right way in order to remix its streaming services. With a $10 per month subscription devoid of video through, YouTube is working to recast its YouTube Red, which is an ad-free service that is going to be YouTube premium now onwards. As the service will start streaming, another venture ( Google Play Music) from the parent company YouTube will die out eventually.
Well, the users having advantages of Google Play Music won’t lose the features that they have become accustomed to like Cloud-based MP3 storage locker as the company promised to bridge the gaps between the two services anytime next month.
Here’s a chart to clarify the new services and price points, via Google:
Among all these changes, YouTube Music will continue to cost $10 a month. And the new YouTube premium, which will have some added features including music with ad-free viewing experience will cost $12 a month. The $2 rise price bump from Red’s current price is fair enough owing to the features it is offering.
"YouTube, in general, is where most music is consumed. If there was ever a company that could build a successful subscription business, it would be YouTube," Lyor Cohen, YouTube’s music head said in an interview. Talking about the statistics, YouTube is internet’s biggest site having much more than 1.8 billion accounts that tune in to the channel every month.
The music viewing is actual music listening, as music videos rank on the website and viewers like it to go through such videos.
YouTube’s track with music subscription has remained a spotty one in the past. It had debuted a number of such services that do not get so much of appreciation to help continue the service. In 2014, YouTube started YouTube Music Key, which was a subscription service that didn’t expand much beyond a small number of users using the services. However, in 2015, the channel revamped its services YouTube Music that was modified more to be named YouTube Red.
YouTube has never talked about the number of users it gets from the music streaming services but the company has remained one prominent as the Spotify rival, which has in general 40 million paid subscribers.
The upcoming week, YouTube will try again to match up to the competitor by launching its revamped YouTube Music app in the US, South Korea, Mexico, Australia and New Zealand, followed by another 14 countries in the following weeks. The app will feature the following offerings, shelves of recommending music and playlists, collections similar to an artist user have been listening to a lot lately, and a My Mixtape personalized playlist.