New music streaming service from YouTube is planned for next year

Alphabet doesn’t want to let Spotify and Apple run away with the lead any longer. A new music streaming serviced powered by YouTube is in development and should be available within the next few months, according to a report from Bloomberg.

Remix, the project’s internal name, wouldn’t usher in any groundbreaking features. The report says it should have “Spotify-like on-demand streaming” and “elements from YouTube.” Like Apple Music, clips normally uploaded to YouTube would be highlighted to add a personal touch. Artists are being contacted to participate in the upcoming launch.

There might already be issues with getting the new service off the ground, though. While Warner Music Group agreed to a deal, two of the other three major record labels are still engaged in negotiations with YouTube. Sony Music Entertainment and Universal Music Group have yet to reach an agreement. Veevo, the service that distributes music videos worldwide, also has an expiring deal with YouTube needing to be renewed.

Right now there are two music streaming services operated by Alphabet’s biggest subsidiary. Google’s Play Music and YouTube Music overlap, and you actually get both with the same subscription. Fortunately, though, the teams behind both products merged earlier in the year. It was confirmed that they’d be working on a new service together.

The industry leader is Spotify, and Apple Music isn’t far behind. As of September 2017, more than 30 million people were paying for Apple’s music streaming service. Spotify, meanwhile, had 60 million subscribers as of the summer. The growth rate for Apple Music seems to continue accelerating; however, it’s unknown just how fast Spotify is adding new subscribers.

The new service needs to bring together standard features from other music streaming services and YouTube’s ability to let personalities flourish. If Alphabet’s merged team can accomplish that, Android users might finally have an appealing in-house subscription to consider.

 BLOOMBERG

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