YouTube planning new music subscription service

YouTube planning new music subscription service

Google is getting ready to launch its new music subscription service under YouTube 's brand in march, according to a new Bloomberg report.

There are still a few months left for YouTube to make things happen and it will certainly be interesting to see how things develop.

Paid services from Spotify and Apple Music have spurred a recovery in the music business, which is growing again after nearly two decades of decline.

According to Bloomberg, the new service is planned to arrive in March and is now being referred to internally as Remix.

Universal, Sony and independent rights group Merlin are believed to be in discussions with YouTube but are yet to sign an agreement.

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Alphabet no doubt wants a part of the growing music streaming market.

Remix would be the latest attempt by YouTube to compete with streaming giants Spotify and Apple Music, following YouTube Music Key and YouTube Red. Not only has YouTube been trying to negotiate new deals with Universal and Sony for more than a year, but it also has a negotiation with Vevo looming early next year.

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

Within the YouTube team, the music streaming is being referred to as "Remix". According to Bloomberg Remix will feature on demand music similar to Spotify and also include video clips. Google folded much of the staff for Google Play Music into YouTube earlier this year, and Cohen announced plans to create a new paid service.

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