YOUTUBE TV REACHES 3 MILLION PAID SUBSCRIBERS

In Google’s Q3 earnings call, YouTube TV announced its ability to surpass its 3 million subscriber goal. The announcement was made seven months after Google passing of the 2 million mark for the vMVPD service, highlighting accelerated growth on behalf of the service.

YouTube TV is now the second biggest virtual pay-TV service followed by Hulu. It finished the second quarter with 3.4 million paid users. YouTube TV’s growth came despite the platform upping its base price from USD 50 to USD 65 a month at the end of the third quarter, following a carriage deal with ViacomCBS to carry legacy Viacom cable networks. “We expected Google’s ad revenues to recover across search, YouTube, and Network Members in Q3, and all three segments outperformed our expectations,” said eMarketer Principal Analyst Nicole Perrin. “That was especially true of YouTube, which posted 32% ad revenue growth over last year, pointing to advertisers’ continued desire for video inventory, the return of brand spending, and notable increases in political ad spending during the quarter.”

YouTube has 2 billion users worldwide, with ad revenue pouring in at over USD 5 billion. YouTube Music Premium also received significant growth, reaching 30 million paid subscribers by the end of the quarter. The service costs USD 9.99 per month for ad-free music. “We had a strong quarter, consistent with the broader online environment,” said Sundar Pichai, Chief Executive Officer of Alphabet and Google in a third-quarter announcement, as the company showed growth across its assets. “It’s also a testament to the deep investments we’ve made in AI and other technologies, to deliver services that people turn to for help, in moments big and small.”

YouTube’s music and premium paid subscriber base recently reached 30 million paid subscribers during the third quarter. “As a sign of the times, views for guided meditation videos are up 40% since mid-March, while DIY face mask tutorials have been viewed over 1 billion times,” Pichai said.