Google's 'YouTube Music' is a New Music Subscription Service
Joey Haar — May 17, 2018 — Pop Culture
References: youtube.googleblog
Consumers have long used YouTube as a roundabout way to listen to their favorite music (regardless of whether or not they're interested in the accompanying video), so Google's YouTube Music is a new platform that gives the people what they want. The service is being positioned as a premier streaming service, with both a free and a paid subscription tier.
Google's YouTube Music is structured in a similar way to competitors like Spotify. There's an ad-supported tier that will be completely free to use, and the paid version will be ad-free. The paid subscription service for YouTube Music is slated to start at a cost of $9.99 per month. What separates the platform from competitors is that it has the power of YouTube built in, with music videos integrated into the app.
Google's YouTube Music is structured in a similar way to competitors like Spotify. There's an ad-supported tier that will be completely free to use, and the paid version will be ad-free. The paid subscription service for YouTube Music is slated to start at a cost of $9.99 per month. What separates the platform from competitors is that it has the power of YouTube built in, with music videos integrated into the app.
Trend Themes
1. Ad-supported Music Streaming - Opportunity for brands to reach a wider audience through targeted ads on free music streaming platforms.
2. Paid Music Subscription Services - Potential for innovative features and exclusive content to attract and retain paying subscribers in the highly competitive music streaming market.
3. Integration of Video and Music Streaming - Possibility for seamless integration of music videos and audio streaming within a single platform, offering a more immersive music experience.
Industry Implications
1. Music Streaming - Opportunity for music streaming platforms to diversify their revenue streams and reach a wider user base through ad-supported and paid subscription models.
2. Digital Advertising - Potential for targeted advertising through ad-supported music streaming platforms to reach engaged and diverse audiences.
3. Entertainment - Possibility for the convergence of video and music streaming to create new entertainment experiences and capture user attention in a competitive market.
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