YouTube set to launch new streaming platform to rival Spotify

YouTube is set to hit the ground running in 2018, with the company reportedly ready to launch a new paid music streaming service as early as March.

Bloombergreports that YouTube’s new service, with a working title of ’Remix,’ will include on-demand music streaming in a similar vein to Spotify, but will also bring in elements from YouTube’s existing platforms like video clips.

The platform looks set to replace Google Play Music, which was originally launched as an audio-only streaming service in 2011, with staff of Google Play Music having already merged into the YouTube staff team earlier in 2017.

YouTube has received scathing criticism from the music industry for two of its prickliest issues – not paying its artists enough, and not doing anything to get rid of copyright infringing user-uploaded content on its site.

YouTube has tried to rectify this with increased payouts and revenues through new subscription service offerings as Music Key in 2014 (which became YouTube Red in 2015) and Google Play (both Google and YouTube are owned by Alphabet.

YouTube also launched its Content ID system to identify and take down videos with copyright-infringing content.

Warner Music have reportedly already signed on for the new platform, while YouTube is currently negotiating with Universal Music Group, Sony Music Entertainment and Merlin, who handles digital rights for the global independent sector.

Also making things more interesting in terms of how long and in what shape the new deal takes place with the majors is that Vevo – the music channel owned by Universal and Sony – is up for renegotiation with YouTube in early 2018.

It’s also interesting to see how long YouTube will take to catch up with Spotify’s 140 million users and 60 million subscribers, and Apple Music’s 30 million subscribers.