Susan Wojcicki, CEO of YouTube revealed that 50% of YouTube views originate from mobile devices. Currently, the organization’s top three priorities are “mobile, mobile, mobile.” Even though, YouTube has an increasing number of competitors, she opined that she isn’t concerned as long as YouTube is growing and engaging users.
She also mentioned that the number of YouTube users has exceeded 1 billion globally. Wojcicki went on to hint that YouTube was open to acquiring companies if they were the right ones.
Wojcicki announced that Music Key would be rolled out later this year. Music Key is a paid subscription music streaming service made available by YouTube. This music service will be ad-free, can be availed offline and can play in the background while the user is accessing other apps.
Last November, YouTube launched a beta version of its Music Key service at $8 per month. Wojcicki described the initial launch as a trial run. Now, YouTube would be incorporating the feedback in its launch later this year.
According to her, YouTube is a bit different compared to Apple/Spotify. The music is different, and the objective is different too. The defining experience is about being able to watch favorite artist playing songs. She added that the YouTube music team is brainstorming about how to ‘lean in’ into that more.
In conclusion, it seems that YouTube is offering additional features for music lovers beyond a Spotify, Pandora Media Inc (NYSE:P), Apple Inc. (NASDAQ:AAPL) Music and not directly compete with them.
She emphasized that Music Key is different in many ways including the related music videos it offers to users and user-generated clips of people who have covered songs.
Wojcicki is of the opinion that the YouTube stars are loyal and would not leave the site entirely. While exclusivity from the stars would be nice, it is not necessary. For them, YouTube is their home and a platform they are familiar with.
Wojcicki asserted that YouTube’s competitors are emerging, but the bottom line is YouTube was and will remain the leader.
Sources: businessinsider, techcrunch
