According to a report from the Financial Times, YouTube (GOOG, GOOGL) has hit 50 million paying customers for its music-streaming services. Two people who had been informed on the intelligence told the Financial Times about the YouTube music numbers. The number of subscribers shows that YouTube, which is owned by Google, is gaining ground on music streaming competitors like Apple Music (NASDAQ:AAPL) and Spotify (NYSE:SPOT). According to the Financial Times, YouTube had 30 million paying subscribers a year ago when it began in 2018.
Subscribers to YouTube Music pay $10 per month, or $12 per month for YouTube Premium, which includes music and more video content.
Late Wednesday, allegations arose that the US Department of Justice is prepared to sue Google for antitrust violations in the advertising industry.