Google Music Sales Surge Amid Competition

Despite competitors like Spotify and Rdio, Google succeeds in attracting subscribers to its premium music streaming service.

Music is now becoming more of a necessity than a luxury. Many popular brands are working towards making their way in the music fraternity. Google Inc. is also one of those firms that are paving their way to have a strong hold on the online music streaming market.

The demand for streaming music online has substantially increased over a short span of time. People now prefer streaming content over any other conventional medium. Thus, the popularity of Google;s music service is not something unusual.

The popularity of their streaming service has proved to be extremely beneficial where the demand for Google Download has also increased, creating a market for both of the products.

Google’s executive leadership is extremely proud of what they have achieved in a fairly short span of time. The Vice President of Google was enthralled by the company’s overall progress in this domain. However, the company has not really acknowledged the exact number of subscriptions and sales but finds them to be skyrocketing.

Proud of the popularity of this product she stated: “Not only are our subscribers growing but our download numbers are growing despite the industry trend.” Google stock price will also grow she added.

The company launched its services back then in the year 2013. The idea of launching such a service was to spark competition among industry music giants like Rdio and Spotify. The company however was not received positively where it decided to acquire Songza so that it could actually make its app more users friendly.

The vice president further adds that from that era to date the company has come a long way where it approximately caters to a library of 30 million soundtracks that can be streamed easily from the app. According to a consensus made by the company, “Google Play music generates hundreds of millions of dollars per year to the music industry.”

The company’s strategy at this stage is to attract more subscribers which will further enrich the user experience. For the same reason, the company is working to offer the best possible services such an hD recordings that will allow them to engage more subscribers.

When analyzing the company’s revenues obtained from music recording, it has been deduced that a substantial chunk of their revenues through music recording. she is worried about the conservative mindsets of buyers who still opt for buying music over subscription based services. However, she concluded by saying, “We’re going to be in a world that supports both access and ownership for many years. There is room for both models.”

Google stocks have also benefited through this endeavor.