YouTube Paid Music Service to Launch Early Next Year

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Alphabet Inc’s (NASDAQ:GOOG,GOOGL) YouTube is reportedly planning to launch a paid music service in early 2018.

YouTube Paid Music Service to Launch Early Next Year

According to these recent reports, the YouTube paid music service will launch in March. The reports claim that the company is internally referring to the new paid music service as “Remix,” but it is still unknown if that will be the official name at launch.

If these recent reports are accurate, then YouTube has already signed on Warner Music Group for the service. These same reports also say that negotiations are underway with Sony Music Entertainment and Universal Music Group and Merlin. The video streaming company is also hoping to get artists to help promote Remix.

The report claims that YouTube is hoping to provide a service similar to Spotify or Apple Inc’s (NASDAQ:AAPL) own streaming option. However, it also notes that the company wants to mix it up a little by offering videos through the service as well, reports Bloomberg.

The new paid music service appears to be the result of Lyor Cohen’s plans for the company. Cohen is the head of music at YouTube and said earlier this year that he was working on a way to combine YouTube Red with Google Play Music.

Remix won’t be the first time that YouTube has tried to create a dedicated music streaming service. Music Key was one such previous effort that just never caught on with users. However, maybe this time the streaming service will get it right.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/12/youtube-paid-music-service-to-launch-early-next-year/.

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