YouTube to launch Spotify rival streaming music service in 2018

YouTube to launch Spotify rival streaming music service in 2018

Alphabet's YouTube plans to introduce a paid music streaming service in March, Bloomberg reported on Thursday, citing people familiar with the matter. The giants of the industry like Spotify and Apple Music have secured a safe spot, gathering a huge number of subscribers and active users. Warner Music Group, one of the world's three major record labels, has already signed on, said the people, who asked not to be identified discussing private talks. Talks with Sony and Universal, as well as Merlin-which represents hundreds of independent record labels-are apparently underway. Music is one of the most popular genres of video on YouTube, which attracts more than a billion users a month.

While the music streaming service is expected to arrive in March, YouTube is still grinding out the details of its deals, so it could face delays that push out that launch date.

Making things a little spicier is the fact that music channel Vevo's contract with YouTube reportedly requires re-negotiation early next year.

Google's worldwide music boss Lyor Cohen has previously spoken of the possibilities of bringing together Google Play Music's paid service with elements of YouTube.


Currently, YouTube offers its Red service to customers that give them access to original content and also commercial-free streaming.

Alphabet no doubt wants a part of the growing music streaming market.

Within the YouTube team, the music streaming is being referred to as "Remix". Apart from this, the company has also been reaching out to artists to market its service when it is launched.

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