Hi-Tech

YouTube to Launch New Subscription Music Streaming Service Next Year

YouTube to Launch New Subscription Music Streaming Service Next Year

Google introduced audio-only streaming service Google Play Music in 2011.

2018 is going to start with a bang: YouTube looks set to launch a new music streaming service in March next year.

Paid services from Spotify and Apple Music have spurred a recovery in the music business, which is growing again after nearly two decades of decline.

YouTube 's new music service, which is reportedly internally known as Remix, will be the successor of the company's existing music streaming service, Google Play Music. Talks with Sony and Universal, as well as Merlin-which represents hundreds of independent record labels-are apparently underway. That morphed into YouTube Red in 2016, letting users watch any video without advertising.

At this point, it's unclear what the new music service will mean for YouTube Red, the company's other paid offering. If a new YouTube music streaming service was announced, it would be interesting to see how it would fit in the firm's current portfolio of products.




Making things a little spicier is the fact that music channel Vevo's contract with YouTube reportedly requires re-negotiation early next year. Vevo, owned by Universal and Sony, distributes music videos for their acts.

Within the YouTube team, the music streaming is being referred to as "Remix".

YouTube was not available for comment outside regular business hours.

According to Bloomberg, this new service would appease record executives who have been very critical when it comes to streaming services in general.


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