YouTube Launches A New Music Streaming Service. But Can It Destroy Spotify?
After all, you can't find Taylor Swift on Spotify now.
By Darian Goh — 13 Nov 2014, 04:52 PM — Updated almost 10 years ago
YouTube has joined the music subscription industry and it plans to go big
For nearly a decade, YouTube has offered a smorgasbord of free music, making just about every song imaginable — from Top 40 to ukulele covers — available at a click. But soon the site, whose more than one billion monthly visitors make it the world’s most popular music platform, will start charging for additional perks.
nytimes.com
On 12 November 2014, YouTube announced YouTube Music Key, giving users the option of paying 8 USD a month for songs and to remove ads
On Wednesday, YouTube unveiled YouTube Music Key, a long-awaited upgrade of its music offerings that will include higher-quality audio for most songs and give users the option of paying $8 a month for extra features, chief among them removing YouTube’s ubiquitous ads.
nytimes.com
YouTube has announced the launch of its highly anticipated subscription music service, as well as an overhaul to how the site organises and presents its collection of free music. The subscription service, called YouTube Music Key, will be invite-only for the time being, with six months free followed by a promotional price of $US7.99 per month.
The service will be free for six months followed by the promotional price of 8 USD. After that, it will charge 10 USD per month, which is on par with other services such as Spotify.
YouTube is launching a subscription music service called YouTube Music Key, with the beta version coming next week. You'll be able to pay $10 per month for mercifully ad-free music and videos.
gizmodo.com
Meanwhile, YouTube Music Key is the paid tier of Google's new initiative, which will cost $9.99 and enable offline and ad-free listening. Key will launch with an invite-only beta this coming Monday (Nov. 17) in the U.S., U.K., Ireland, Spain, Italy, Finland and Portugal. All Key subscribers will also be given access to Google's existing streaming service, Google Play Music.
Subscribers can choose music, playlists and music videos all for offline use with this service
YouTube's existing "catalog" of songs with official music videos will be expanded through the addition of video-free songs. Music Key subscribers will be able to choose music videos, playlists and songs for offline listening. The free service also comes with a Pandora-like one button solution to listening, an "endless playlist" based off a listener's song or artist choice.
Google's popular video site on Monday will roll out a pilot version of YouTube Music Key, a monthly subscription service that's priced at $10 a month. Members can watch music videos and listen to songs on YouTube without ads. It will also keep the tunes spinning on mobile devices even if the screen locks, listeners move to another app or the user has no Internet connection.
cnet.comAlthough similar to Spotify, it has one advantage over the other music service; the music video
The service has similarities with Spotify as it can create playlists and save music to a device to listen to offline. But Music Key has more of a focus on the music video itself, rather than audio.
sky.com
If a musician has made a video for a particular song, the user must stream or download that video too. Other songs, without a video, can be streamed and downloaded as audio-only.
sky.com
Free music has been critical to Spotify’s marketing plan since it was introduced in 2008, as a way to attract customers who could then be lured into paying for subscriptions. The service now has 50 million users around the world, 12.5 million of whom pay. But many analysts say that the free music online — particularly on YouTube — has stunted the growth of subscriptions. In a report last month in anticipation of YouTube Music Key, Midia Research estimated that the service could attract 5.7 million customers in its first month. But the report said that YouTube would also effectively cost the music industry $2.3 billion in lost revenue, as its free tier satisfied many listeners who might otherwise be prospective subscribers.
nytimes.com
YouTube is already the world's biggest video site and a legal source of music online. It is also the number one place for music discovery for teenagers to young working adults.
YouTube is already the Internet's biggest video site by audience and the dominant, legal source of music online. It racks up more than a billion unique video visitors every month -- that's one out every seven people on the planet -- and it's the top place for discovering music after terrestrial radio and friend recommendations, according to researcher Nielsen. For young people in their teens through age 34, YouTube is No. 1 place for music discovery.
cnet.comYouTube estimates that its users watch 6 billion hours each month and that 2.28 billion of those — 34 percent — are music-related. Now that YouTube is billing itself as a music service, those stats will immediately make official what was already unofficial: YouTube is the world’s most-listened music service. Pandora’s most recent stats touted 1.73 billion hours of listening per month, making it the next closest competitor.
stereogum.com
In the next few days, non paying subscribers can see album discographies and will get to stream entire music videos and high quality audio for free
YouTube also said that in the next few days, nonpaying listeners will be able to see an artist's discography on YouTube and play a full album with both official music videos and high-quality songs. The site has added millions of songs as part of its deals with music labels, the company said.
cnet.comWith its new service, YouTube hopes to reform its reputation in the music industry as a phenomenal free site to promote songs, but one that pays a pittance in royalties. “We want to give fans more ways to enjoy music on YouTube, but also give artists more opportunities to connect with fans and earn more revenues,” said Christophe Muller, its music partnerships director.
nytimes.com
The issue of music streaming subscription has already ruffled a few feathers. According to Irving Azoff who represents artists like Pharrell Williams and The Eagles, he is ready to take down songs off YouTube due to the artists not being compensated enough.
Looks like the new streaming service is starting to ruffle some feathers: Irving Azoff — who represents artists such as the Eagles, John Lennon, Pharrell Williams, Foreigner, and many more — has told The Hollywood Reporter that he is ready to take 42 of his clients’ copyrighted works off of Youtube, totaling around 20,000 songs. Azoff thinks that songwriters should be compensated more for their work in the streaming market: “The trampling of writer’s rights in the digital marketplace without any regard to their contribution to the creative process will no longer be tolerated,” he tells THR.
stereogum.com
YouTube does pay artists royalties but the amount is minimal
YouTube does pay artists and record companies a share of advertising revenue from free streams, but it is minimal. Record companies in the United States collected just $220 million last year from all ad-supported, on-demand services, which include YouTube, according to the recording industry association.
nytimes.com
Whatever YouTube can add to the bottom line of the industry will no doubt be more than welcome, but it doesn't mean the immediate end of the debate over streaming's contributions to artists' wallets and its effects on the listening and buying habits of fans. Time will tell.