YouTube to launch Spotify rival streaming music service in 2018

YouTube reportedly plans to take on Spotify with a streaming music service next year

YouTube reportedly plans to take on Spotify with a streaming music service next year

Having a streaming music service is all the rage these days for major companies.

Google's worldwide music boss Lyor Cohen has previously spoken of the possibilities of bringing together Google Play Music's paid service with elements of YouTube.


YouTube has plans to release a new paid music service next spring, Bloomberg reports citing anonymous sources familiar with the matter. 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. Now, on the back of the success of Spotify and Apple, they are beginning to recover. Music is one of the most popular genres of video on YouTube, which attracts more than a billion users a month. That morphed into YouTube Red in 2016, letting users watch any video without advertising. It also comes after a raft of sustained criticism from the industry that YouTube does not compensate artists enough for content hosted on the platform. If a new YouTube music streaming service was announced, it would be interesting to see how it would fit in the firm's current portfolio of products.

Making things a little spicier is the fact that music channel Vevo's contract with YouTube reportedly requires re-negotiation early next year. Google combined both the YouTube Music and Google Play Music teams in February, and Google CEO Sundar Pichai had told investors earlier this year that the company planned to unite its music experiences under one roof.

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