YouTube Music is driving crazy growth, positioning the understated streamer as one of the most significant in the market.

YouTube Music may not be what jumps to mind when you think of the world’s most significant music streaming platforms. Whilst it may not have the presence of Spotify, it is starting to make a serious impact in usership and earnings.

YouTube have just posted their second best quarter ever for sales, earning $8.92 billion in Q3 2024 revenue. The last four quarters have seen YouTube surpass $50 billion in ad and subscription revenue.

Alphabet CEO Sundar Pichai has pointed at YouTube Music’s success in growing subscription revenue as a contributor, saying: “YouTube TV, NFL Sunday Ticket, and YouTube Music are driving subscription growth.”

YouTube have been a little quiet on exactly how many people are using YouTube Music. They stated in March 2024 that YouTube Music had surpassed 100 million subscribers, however the data isn’t clear cut as YouTube Premium subscribers gain access to YouTube Music without necessarily using it.

In August, market research firm Kantar revealed data suggesting that YouTube Music is the fastest growing platform. They found that in the markets they were collecting data for – Great Britain, U.S.A., Australia, Germany, Spain, and France – YouTube Music was outpacing all competitors for new users in Q2 2024, including market leaders Spotify.

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