YouTube reportedly plans new paid music streaming service

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YouTube reportedly has a new music-streaming service in the works to perhaps replace YouTube Red.

Sarah Mitroff/CNET

YouTube plans to launch a new music subscription service in March, Bloomberg reported Thursday, a move that would be Google-parent Alphabet’s third attempt to challenge rivals Apple and Spotify.

The new streaming service, tentatively called Remix, will feature on-demand streaming and incorporate video clips from YouTube, sources described as familiar with the company’s plans told the news outlet. Major recording label Warner Music Group has already signed on, but YouTube is still in talks with Sony Music Entertainment and Universal Music Group, Bloomberg reported.

YouTube didn’t immediately respond to a request for comment.

YouTube would be taking its third swing at the music-streaming business. Google introduced an audio-only streaming service called Google Play Music in 2011. Three years later, Google launched YouTube Music Key, a subscription service that offered music videos and ad-free songs on YouTube for $10 a month. Google changed the name to YouTube Red in 2015 and expanded it to all kinds of YouTube videos.

YouTube has a long way to catch up with Apple and Spotify, though. Spotify has more than 60 million paying users as of July, while Apples Music has about 27 million subscribers.

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Source : https://www.cnet.com/news/youtube-reportedly-plans-new-paid-music-streaming-service-remix/

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