YouTube to Launch New Subscription Music Streaming Service Next Year

YouTube To Launch Streaming Music Service Called “Remix”Staff

The service will combine both traditional music streaming and music videos, according to the report. Spotify is the giant, and it only offers a streaming music option.

2018 is going to start with a bang: YouTube looks set to launch a new music streaming service in March next year.

According to the report, YouTube has already finalized a deal with Warner Bros Music Group and is now in talks with Sony Music Entertainment, Merlin (a label covering independent artists), and Universal Music Group.

This will be a third attempt by parent company Alphabet Inc.to catch up with rivals Spotify and Apple Inc, the report said citing people familiar with the matter. It also comes after a raft of sustained criticism from the industry that YouTube does not compensate artists enough for content hosted on the platform. But with YouTube offering a paid subscription option, that should help alleviate any concerns for those companies moving forward.

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

Making things a little spicier is the fact that music channel Vevo's contract with YouTube reportedly requires re-negotiation early next year.

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