YouTube Red reportedly has 1.5M paid subscribers
Just over a year since YouTube’s subscription platform YouTube Red launched in the US, it reportedly has only 1.5 million paying subscribers.
That’s according to The Verge, which has cited “multiple sources with knowledge of the situation”.
The Verge also notes another 1 million users are subscribed to YouTube Red on a free trial basis.
YouTube Red launched in the US in October 2015, offering its ad-free version of YouTube for US$9.99/month.
Along with exclusive and original content from YouTube’s popular creators, YouTube Red features offline saving of videos and playlists, background play of videos and a free Google Play Music subscription.
In February it added original TV shows and movies created by YouTube personalities. Titled YouTube Red Originals, the channel launched with three feature films and a TV series.
Then in May, the platform launched in Australia and New Zealand at a cost of$11.99/month; it was followed by a launch in Mexico in August.
The video streaming giant told The Verge it doesn’t “release or comment on speculative numbers,” and told TMN it did not have any further comments outside of the statement issued to The Verge.
The growth is seen by industry publications like Hypebot and Digital Music Newsas a major signifier for YouTube’s attempt to capitalise on the burgeoning music subscription market. However, it should be noted that while YouTube has over 1 billion monthly users, YouTube Red is only available in four countries, paling in comparison to market leaders Spotify (60 countries), and Apple Music (over 100).
In a statement to The Verge, YouTube said it is pleased with the platform’s growth.
“We’re pleased with momentum behind YouTube Red and we’re seeing healthy growth of members each month.
While we don’t release or comment on speculative numbers, we’re seeing strong engagement of the service in the four countries we’ve launched, leading us to invest in more originals series and movies for 2017 and increased marketing of YouTube Music.”
YouTube is the world’s second-largest search engine, behind its parent company, Google. It’s also the third most visited website after Google and Facebook.