Recognizing how big an asset YouTube is, the company is hoping to leverage the internet’s largest video-sharing platform with licensed music to gain ground on its rivals. Though details are sketchy, it is expected that the service will include both free and paid tiers.Google put its music streaming services on shuffle when it announced YouTube Music, an eventual replacement to Google Play Music and direct competitor to Spotify and Apple Music. YouTube is not resting on its laurels, however, and is planning to introduce an additional streaming service sometime this fall called YouTube Music Key. It's also easier to work around YouTube ads with ad blockers like Adblock Plus, which doesn't work on other streaming services. Many listeners also use YouTube with a conversion tool from which they can create their own digital files of songs for their permanent library. Listeners can find just about every song in existence on the channel, as users upload many of the songs, whereas competing streaming services are limited to the labels and artists with which they have contractual agreements.
Spotify and Pandora have free ad-supported tiers as well, but another point in YouTube's favor is the content and availability of tracks. The most obvious reason why YouTube remains by far the most popular streaming service is that it doesn't cost anything - the service is completely ad-supported. These statistics of course don't include the new Apple Music streaming service, which was just introduced, so it will be interesting to see if Apple's service is really the game changer the company is betting on. The growth rate for YouTube streams is a staggering 109.2 percent, way ahead of competitors like Spotify, Rdio and Rhapsody, which still achieved a healthy growth rate of 79.2 percent.
In the first half of 2015, 57 percent of the total 135.2 billion total streams worldwide were served by YouTube.
The one service, however, that often goes unmentioned in many of the latest news stories is actually the largest music streaming service in the world, and that's YouTube. With Apple throwing its hat into the game with the recent launch of its new Apple Music streaming service, media comparisons between Apple's new offering and those of its rivals like Spotify, Pandora and Tidal are ubiquitous. YouTube also plans to launch a new music streaming service this fall, with a paid tier.Įveryone's talking about music streaming these days. YouTube remains the largest streaming music service worldwide by far, and its growth rate is even larger than that of rivals like Spotify.
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