Tech

Google to Launch New YouTube Music Service in March

Google to Launch New YouTube Music Service in March

Bloomberg notes that YouTube plans to introduce the music service in March.

According to Bloomberg, this new service would appease record executives who have been very critical when it comes to streaming services in general. Spotify is the giant, and it only offers a streaming music option.

Universal, Sony and independent rights group Merlin are believed to be in discussions with YouTube but are yet to sign an agreement. The service is also attached to Google's Play Music, which allows users access to either service, at no extra charge. Once the deals are finalized, which seems inevitable at this point, then that means YouTube will have a streaming music option that's in the same vein as Spotify, Apple Music, and, yes, Google Play Music.

More news: Fallen Kingdom' Trailer Has Arrived

Internally codenamed "Remix", the new service features on-demand streaming with video clips and other YouTube-like elements. Not only has YouTube been trying to negotiate new deals with Universal and Sony for more than a year, but it also has a negotiation with Vevo looming early next year. Earlier this year, Goldman Sachs predicted in its Music in the Air report that the streaming music market would grow to $28 billion per year by 2030, and Google will certainly want a large slice of that pie.

Though the music industry had hoped Red would be devoted to music, YouTube has positioned it as a home for original video projects like science-fiction comedy "Lazer Team" and a reboot of "The Karate Kid".


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