YouTube said to plan new paid music subscription service


Overall, the Prime Video layout is relatively decent, although some users are experiencing issues with 5.1 surround sound and only getting 2.1 audio.

This service will let YouTube compete with Apple Music and Spotify. It's attempted three such services in the past, including Google Play Music, YouTube Music Key, and YouTube Red, none of which have gained much traction. This paid music streaming service is internally called "Remix", and, is said to be launched in March next year. In comparison, Spotify now has 140 million monthly users, 50 million of which are paying for a monthly subscription. Yet major record labels say the growth would be even more significant if not for YouTube, which they criticize for not compensating them enough, considering how much people use the site to listen to tunes.

In an attempt to catch up with music streaming apps Spotify and Apple Inc., Alphabet Inc. will give a third shot at launching YouTube's new music streaming service. The service is expected to feature on-demand music just like the popular service, Spotify.

According to Bloomberg, YouTube has already signed a contract with Warner Music Group and is in a talk with Sony Music Entertainment, Merlin, and Universal Music Group, and some other group of independent labels. A representative from YouTube also commented that "YouTube has reached out to artists to seek their help in promoting the new service". The latter, which was originally expected to focus on music became more invested in original video projects. Vevo, owned by Universal and Sony, distributes music videos for their acts.

Some other reports also suggest that, YouTube will merge the YouTube Red's subscription with this Remix platform so the users who have subscribed to YouTube Red will be able to explore the platform simultaneously.

As per the report, YouTube will have to overcome various hurdles in order to meet the March 2018 launch date of the music subscription service. YouTube also hired former Warner Music executive Lyor Cohen in 2016 to help oversee its music operations and serve as a liaison to the record business.