YouTube Music Offering to Compete with… Everyone Else

Are you looking to open the world of music? If so, then you might be the target audience for YouTube Music, the company’s music streaming service. YouTube Music officially launched and is looking to compete with Spotify, Apple Music, Amazon Music Unlimited, Google Play Music, Deezer, Tidal, iHeartRadio, Pandora and others.

YouTube has an advantage in the streaming music business. First, there’s the sheer number of users on YouTube. YouTube is the second largest search engine in the world. In 2014, the most searched term on YouTube was music and in 2018, 95% of the most watched videos on YouTube are music videos. If we were going with those facts alone, it seems like a natural extension for YouTube to create an offering entirely devoted to music.

Leveraging the power of the platform, YouTube launched its standalone premium streaming service that makes music the central focus for those who want official audio, official video, playlists and artist stations. It is also promoting additional content and “the rest of the story you can’t find anywhere else: live performances, remixes and covers.”

The questions we pose with this initiative are:

  1. Is YouTube Music too late to the party (is the market is too saturated with other streaming music services)?
  2. More importantly—can YouTube overcome the challenge of convincing people to pay for a premium version of the platform after many have been freely distributing and consuming content (even content they didn’t own) for so long.

What do you think?

  • SOURCE: YouTube
  • BRANDS: YouTube
  • WHY YOU WILL LOVE IT: Because you already listen to music on YouTube and this just feels right.

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