Research firm Midia Research has published its latest market estimates, based on music fans’ behaviour in the third quarter of 2018. “YouTube is the dominant music streaming platform, with 55% of consumers regularly watching music videos on YouTube, compared to a combined 37% for all free audio streaming services,” claimed the company, adding that YouTube usage “skews young, peaking at nearly three quarters of all consumers under 25”.
Midia also highlighted Mexico, where even radio’s popularity pales compared to Google’s video service: “68% of those under 45 watch YouTube music videos compared to 41% that listen to music radio,” in that country.
There are also some initial estimates for how well YouTube is converting free music viewers into paying subscribers: “While 58% of Spotify’s weekly active users (WAUs) are paid, the rate for YouTube Music weekly active usership is in single digit percentage points. That dynamic is not going to change in any meaningful way…”