This year marks a monumental milestone for YouTube as the platform celebrates its 20th anniversary. From its humble beginnings as a simple video-sharing site, YouTube has grown into the largest music stage in the world, reaching over 100 countries in 80 languages. The journey has been nothing short of remarkable, and according to Lyor Cohen, YouTube’s Global Head of Music, the best is yet to come.
In a heartfelt letter, Cohen reflects on the incredible progress the platform has made over the past two decades. “We’ve accomplished so much together over the last 20 years… but if you think we’re slowing down, you’re dead wrong,” he writes. “I mean, have you ever heard of anyone retiring at 20? 20 is when things get interesting – when ‘impossible’ and ‘improbable’ don’t yet ring a bell.” This sense of audacity and ambition defines YouTube’s vision for the future.
YouTube’s Music Milestones
One of the most significant achievements for YouTube over the past year has been the growth of YouTube Music and YouTube Premium. Cohen proudly announced that YouTube has surpassed 125 million global subscribers across both services, including trials. This milestone was once thought impossible when the platform first launched, but Cohen sees it as just the beginning. “This momentum is critical to our goal of becoming the No. 1 contributor of revenue to the industry, and we won’t stop until we get there,” he asserts.
YouTube’s ability to create a robust ecosystem for both artists and fans has fueled this growth. Increased discovery, engagement, and community building contribute to greater promotion and monetization opportunities for artists, ensuring that the platform remains a hub for premium content. As Cohen explains, “The cycle continues and the results are clear.”
Expanding Access with Premium Lite
In an effort to make YouTube even more accessible, the company has introduced the Premium Lite subscription, which offers users an affordable way to enjoy ad-free videos, excluding music content, Shorts, and certain browsing activities. The early pilots have shown promise, with more Lite members upgrading to YouTube Premium than Premium members downgrading to Lite. This flexibility aims to give users more choice while benefiting content creators and artists alike.
Dominating Watch Time
YouTube has also cemented its position as the number one streaming platform in the U.S. in terms of watch time, a title it has held for two consecutive years. With more than 1 billion hours of content viewed daily on TV sets alone, the platform’s reach continues to grow. “Our global reach empowers fans to discover new music on Shorts, which now generates over 70 billion daily views, and on connected TVs – the fastest-growing surface for YouTube,” Cohen highlights. The rise of connected TV viewership is particularly notable, with events like Coachella seeing more than 50% of its live stream audience tuning in via connected TVs.
The Future of Music Videos and AI
Looking to the future, Cohen has a bold vision for the role of music videos on YouTube. He envisions a “rebirth” of the music video, one that doesn’t require the largest budgets but instead focuses on authentic, impactful content. “Think about the iconic music videos that have shaped our culture. These weren’t simply videos; they were cultural moments. And they didn’t just break songs – they broke artists.” This renewed focus on visual storytelling, Cohen believes, will continue to shape the future of music on the platform.
YouTube is also investing heavily in artificial intelligence to help artists and fans bring their creative visions to life. One of the most exciting developments is the integration of Google DeepMind’s Veo 2, which powers the Dream Screen feature in Shorts. “With this new integration, artists and fans can create standalone video clips for their Shorts, broadening the horizons to tell visual stories with music,” Cohen explains. The potential of AI tools like Dream Screen represents a significant step forward in making creativity more accessible.
Embracing Uncertainty and Seizing Opportunity
In the face of uncertainty in the world and within the music industry, Cohen remains optimistic. Drawing on his 40 years of experience in the business, he views challenges as opportunities for growth and innovation. “I’ve learned that uncertainty and challenges signal great opportunity,” he writes. “I cannot wait to see what the next 20 years of YouTube holds.”
As YouTube celebrates its 20th anniversary, there is no doubt that the platform’s journey is far from over. With a commitment to providing the best experience for both music fans and artists, YouTube’s future looks brighter than ever. The next 20 years will undoubtedly bring even more innovation, creativity, and groundbreaking milestones in the world of music and beyond.
