The subscription music service market could have yet another player by the end of this year.
Sources tell the Los Angeles Times that Google’s (GOOG) YouTube is planning to launch its own pay service as early as December. The move would compliment the website’s popular appeal as a platform for young people to discover and listen to music.
Music videos on the website are currently available mostly for free and can be viewed an unlimited number of times via web browsers and mobile apps.
Here are four things to know about YouTube’s new subscription music service, according to inside sources:
- It is expected to be commercial free.
- Subscribers will be able to store music on their devices for online listening.
- It will be integrated with Google’s existing online music service Google Play Music All Access.
- It will permit users to create customized radio stations and develop recommendations based on subscribers’ tastes.
A YouTube subscription music service would compete with rival services like Spotify, Rdio, Pandora (P) and Apple’s (AAPL) iTunes Radio, a free service which launched last month.
Shares of Google slipped slightly in Thursday morning trading.