YouTube's launched its new music streaming service, YouTube Music, as a mobile app presumably on Android and iOS and desktop web player. YouTube Music will feature everything you expect from a streaming music service, including millions of songs, albums, thousands of playlists and artist-based radio. Its major differentiator is YouTube's "catalog of remixes, live performances, covers and music videos" that aren't on other platforms.
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How much does YouTube Music cost?
We just launched engagement data! Gone on a YouTube binge lately? Fallen down the rabbit-hole of celebrity interviews, cat compilations, or music videos from your favorite band? Did you know you can pay for all that? In this episode of Pricing Page Teardown, we dig into the components of YouTube Premium, the platform's attempt to monetize its massive user base. Though the product is fairly new, they've already got a handle on their core customer and their willingness to pay. However, we also see key areas where the company could localize, segment better, and increase its margins. Gen Z is also on the company's radar, soaking up YouTube and re-creating it in ways that even the founders might not have imagined.
What’s going on?
The long wait for YouTube's revamped music service is nearly over: the company announced on its blog that it will debut the new YouTube Music on May YouTube already has a service by the same name, but this new version overhauls the old one and introduces two new premium services into the mix: YouTube Music Premium and YouTube Premium. Let's break down YouTube Music first: the new music-streaming service will offer free, ad-supported music streaming through a new desktop and mobile app. YouTube emphasizes that "all the ways music moves you can be found in one place" in the new YouTube Music, as it gives users access to thousands of playlists, official songs and albums, remixes, covers, live versions, and music videos.
Here's basically what's happening: It's getting rid of YouTube Red and splitting that into new services. Customers who currently pay for YouTube Red will get the new YouTube Premium service at the same price they currently pay. The new plan still sounds confusing, so I'm going to break down what Google's doing here. YouTube Premium is Google's new paid all-encompassing ad-free service. The free version of YouTube, with ads, will live on.