YouTube seeks to debut a new paid streaming service by March
YouTube will look to launch its own music streaming service come March. Tentatively titled “Remix,” the paid service will offer video clips directly sourced from YouTube, as well as on-demand music streaming.
Remix represents Google’s third attempt to introduce a music streaming platform that can contend with the likes of Apple Music and Spotify. Google released its audio-only streaming service, Google Play Music, in 2011. 2014 would see the development of YouTube Music Key, a subscription based service that coupled ad-free music streaming and music video viewing on YouTube for a ten-dollar monthly fee. In 2015, YouTube Music Key became YouTube Red. YouTube Red maintained all of YouTube Music Key’s original features, adding offline video viewing. YouTube Red also enabled subscribers to listen to videos even when their phone screens were turned off.
Warner Music Group has already signed a licensing deal with YouTube in support of Remix. YouTube currently remains in talks with Sony Music Entertainment and Universal Music Group. The inception of Remix is said to hinge on YouTube’s ability to negotiate agreements with major music publishers.
YouTube will remain on the offensive as its contract with Vevo becomes subject to renewal in early 2018. Jointly owned by Sony and Universal, Vevo holds a “majority share” of music video rights. YouTube, however, might find some of its industry relationships to be tenuous given the record industry’s general distaste for YouTube’s reportedly thin payouts to labels and artists. The third time might indeed be the ‘charm’ for Google, but only time will tell if Remix can emerge as a formidable contender in the music streaming market.
H/T: The Verge