The CEO of the company Susan Wojcicki confirms that the company will launch paid ad-free music subscription service very soon
YouTube is the go to website for all kinds of videos around the world. About three weeks worth of videos are watched on the website everyday and it brings revenue of $1.13 billion alone. What has trended more than the funny videos or movie clips are the music videos. In a few years since the launch of the company, the viewer-ship demographic has changed entirely.
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Videos are rated based on the views in digits on YouTube and we saw songs like ‘Bad Romance’ by Lady Gaga and ‘Baby’ by Justin Bieber set new records. The 2014 Grammy awards acknowledged the wide range of music covers and videos uploaded on the site and it seems to bring subscribers and users from all around the world everyday.
With the dominant scene created by music, Google, who bought the company a few years ago and established the site as an app on Google Play, has been considering upgrading the website’s music domain to a separate music subscription service.
The rumors for the upgrade have been around for some time and the company has been talking about launching the service soon but the end of the year 2014 has been upon us and still no service.
The Record Mobile Conference brought the subject up to YouTube’s CEO Susan Wojcicki. She gracefully averted the question by saying that the work on launching the service was still going on and it will be launched very soon.
It can be assumed that the reservations may lie with Google who have ownership of the company. Google is still the world’s largest marketing and advertising network online, hauling $50 billion revenue a year. It is critical for the company to maintain its number one spot before making any decisions that will affect its financial demographics.
Susan told the sources that Google is undergoing a major reorganization. Google has launched successful apps before and they will definitely do an excellent job on this one. The challenge arises to make the service unique and better than other services already available online like Spotify.
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They will have to struggle with putting proper price tags on the packages they are offering do the could beat the online market of music service and that is what Susan Wojcicki expressed in her interview at the conference.