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YouTube is about to launch a music streaming service to rival Apple and Spotify
YouTube will launch a music streaming service next March, according to report published today by Bloomberg.
The service will tentatively be called Remix. YouTube’s parent company Alphabet Inc. hasn’t officially announced anything, but people familiar with the move told Bloomberg that Warner Music Group is already on board. YouTube is also in talks with Sony Music Entertainment, Universal Music Group and the Merlin Network of independent labels. At the moment, YouTube is reportedly also in talks with a number of artists.
If the deals go through and the service is launched, this should go some way in helping to appease the music industry. YouTube has come under fire for years for not being stringent enough in policing copyright infringement as well as for not paying artists and labels their dues.
YouTube so far has not been able to create a music streaming service to match those of Spotify and Apple Music. Services such as Google Play Music, YouTube Music Key, Music Key and the music video-focused YouTube Red have failed to hit the mark. According to Bloomberg, Remix will feature on-demand music similar to Spotify and also include video clips.
Alphabet no doubt wants a part of the growing music streaming market. Last December, Goldman Sachs said in a report called “Music in the Air” that by 2030 the market will grow to $28 billion. Nonetheless, with Spotify having 60 million paying users and Apple about 27 million subscribers, YouTube will have a mountain to climb to catch up.
Image: Andrew Perry via Flickr
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