YouTube to launch music subscription service next year

The service, internally referred to as Remix according to Bloomberg, will compete with similar offerings from Spotify

(FILES)This picture taken on January 27, 2010 in Paris shows the internet homepage of the YouTube website. YouTube gave its users five more minutes on July 29, 2010, increasing the upload limit for videos to the site to 15 minutes from 10 minutes. Joshua Siegel, a YouTube product manager, said in a blog post that increasing the time limit had been the "number one requested feature" by contributors to the wildly popular video-sharing site. AFP PHOTO/LOIC VENANCE

YouTube plans to introduce a paid music streaming service. AFP PHOTO/LOIC VENANCE

Dec 08, 2017

Alphabet Inc’s (GOOGL.O) YouTube plans to introduce a paid music streaming service in March, Bloomberg reported on Thursday, citing people familiar with the matter.

Record label Warner Music Group has already signed on while Sony Music Entertainment, Universal Music Group, and Merlin, a consortium of independent labels, are in talks with the video streaming website, Bloomberg said.

The service, internally referred to as Remix according to Bloomberg, will compete with similar offerings from Spotify and Apple Inc (AAPL.O).

Google, another Alphabet unit, introduced Google Play Music, a streaming service, in 2011. YouTube launched ad-free, subscription-based YouTube Red in 2016 featuring exclusive video content from popular creators such as Lilly Singh Michael Stevens.

YouTube was not available for comment outside regular business hours.