YouTube is planning to launch its own music streaming service, say sources speaking to Bloomberg. The service is currently slated for a launch in March 2018 and is internally referred to as Remix. It will reportedly offer on-demand music streaming and elements from YouTube, like video clips.
It's said that YouTube has already gotten Warner Music Group to sign on with its new service and that it's still in talks with Sony Music Entertainment, Universal Music Group, and Merlin, a group of independent labels.
As for why YouTube is planning to launch its own music streaming service, it's said that record industry executives want more revenue from YouTube because they feel that YouTube doesn't compensate them enough compared to how much people use the video site.
It's kind of strange to hear that YouTube may be planning its own music streaming service considering that Google already has its own music streaming service in Google Play Music. What's more, a subscription to Google Play Music includes a subscription to YouTube Red, which gives you ad-free video. YouTube attracts more than one billion users every month, so perhaps the thought is that with all of those people going to YouTube, more people will sign up for a YouTube music streaming service than they do for Google's.
Do you pay for a music streaming service?