wnol.info June 21 2018

YouTube plans paid music service

June 21 2018, 06:40 | Alexander Lowe

In 2011 the company introduced Google Play Music and its subscription-based music streaming service.

Apart from Play Music, Google also has another paid service called YouTube Red, which apart from offering ad-free music, is also home to original series and movies from some of YouTube's biggest creators.

Still, music videos account for a majority of views on the YouTube platform. Warner Music Group has already signed on to be part of the new project, with negotiations still underway with Sony Music Entertainment, Universal Music Group and Merlin.

This would be the company's third attempt to break into the music streaming market. So there will be more contents to explore at the users' side if you go with this YouTube Music Service in the future.

"Music is such an incredible global connector, and with Amazon Music Unlimited we've been able to give listeners access to an extensive catalog with the added experience of using their own voice to hear music in so many ways with Alexa", said Amazon Music VP, Steve Boom, in a press release. That morphed into YouTube Red in 2016, letting users watch any video without advertising. Remix (not the final name of course) is aiming to compete with the music streaming giants, but with the additional elements of video as an extension of YouTube.

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One of the objectives behind the launch of the service is said to be the lack of revenue that comes from YouTube as a video streaming site.

The company must overcome several hurdles if it aims to meet a March target.

Google earlier this week again cut off access to YouTube on Amazon devices such as the Echo Show and the Fire TV stick. Warner Music Group, on the other hand, seems to have already agreed to the deals.

YouTube hired former Warner Music executive Lyor Cohen previous year to help oversee its music operations and serve as a liaison to the record business.

Google shares rose 0.5 percent to $1049.70 in early NY trading.

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