“Announced earlier this month, Alphabet subsidiary Google is launching its new YouTube Music service today,” Evan Niu writes for The Motley Fool. “There will be a free version of YouTube Music that is supported by ads, as well as a YouTube Music Premium tier at the same $10-per-month price point that’s standard for similar services. The company is essentially splitting up its current YouTube Red offering into a premium video service and a premium music service. The video component will simply be YouTube Premium.”

“Do Spotify Technology and Apple — which command about 115 million premium subscribers combined — have anything to worry about?” Niu writes. “Probably not.”

“Google has a bad reputation of offering numerous overlapping services, confusing consumers in the process. Messaging is easily the worst offender, but the same is true for music,” Niu writes. “The Recording Industry Association of America (RIAA) put out some estimates about a year ago for 2016 payout rates, and it’s perfectly clear which service the record labels would prefer thrive.”

Payments to music creators per 1,000 streams

Source: RIAA via Medium via TMF

“Apple and Spotify have both gained critical mass at this point,” Niu writes. “Spotify leads the streaming revolution, with 75 million premium subscribers, and… Apple Music recently hit 40 million [sic] [recte 50 million]paid subscribers, and the Mac maker has a storied history defending the industry’s economics.”

Read more in the full article here.

MacDailyNews Take: The world doesn’t need yet another Apple Music also-ran especially since Spotify will be relegated to that status soon enough.

Tim Cook confirms Apple Music’s 50 million users, big push into TV and movies – May 15, 2018
Analyst: Apple Music will average 40% annual growth over the next three years – April 18, 2018
Apple Music hits 40 million paid subscribers milestone – April 4, 2018
Apple Music hits 38 million paid subscribers – March 12, 2018
Apple Music expands student membership pricing to 82 new countries – February 13, 2018
Apple Music poised to knock off Spotify – February 12, 2018
Apple Music was always going to win – February 6, 2018
Apple Music on track to overtake Spotify, become No. 1 streaming service in U.S. this summer – February 4, 2018
Apple Music and Spotify now account for the majority of music consumption in the UK – January 3, 2018
Spotify files for its IPO – January 3, 2018
Spotify hit with $1.6 billion lawsuit from music publisher – January 2, 2018
Apple Music passes Pandora and Spotify in mobile usage – March 29, 2017
Spotify hits 50 million paid subscribers – March 3, 2017
Apple Music surpasses 20 million paid members 17 months after launch – December 6, 2016
Oh ok, Spotify listeners are upgrading to Apple Music – July 19, 2015
Spotify CEO claims to be ‘ok’ with Apple Music – June 9, 2015