Published: Fri, December 08, 2017
IT | By Lester Massey

YouTube Is Set To Jump On The Music Streaming Bandwagon

YouTube Is Set To Jump On The Music Streaming Bandwagon

According to Bloomberg, which cites unnamed sources familiar with the matter, YouTube's paid service is slated to roll out next March and Warner Music Group is already onboard.

The new service could help appease record-industry executives who have pushed for more revenue from YouTube. Nonetheless, with Spotify having 60 million paying users and Apple about 27 million subscribers YouTube will have a mountain to climb to catch up. Two other industry giants - Sony Music Entertainment and Universal Music Group - as well as Merlin (miinf), a consortium of independent labels, are reportedly in talks to sign up.

Google, another Alphabet unit, introduced Google Play Music, a streaming service, in 2011. Once the deals are finalized, which seems inevitable at this point, then that means YouTube will have a streaming music option that's in the same vein as Spotify, Apple Music, and, yes, Google Play Music. That morphed into YouTube Red in 2016, letting users watch any video without advertising.

Vevo is majority owned by Universal and Sony.

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.

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

YouTube was not available for comment outside regular business hours.

At the time, the company was planning to launch the new service later this year.

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