YouTube to launch Spotify rival streaming music service in 2018

Astrid Stawiarz  Getty Images

Astrid Stawiarz Getty Images

According to Bloomberg, Warner Music Group has already inked a licensing deal for the platform.

Alphabet's YouTube plans to introduce a paid music streaming service in March, Bloomberg reported on Thursday, citing people familiar with the matter. Talks with Sony and Universal, as well as Merlin-which represents hundreds of independent record labels-are apparently underway. Nonetheless, with Spotify having 60 million paying users and Apple about 27 million subscribers YouTube will have a mountain to climb to catch up.

Alphabet no doubt wants a part of the growing music streaming market. This would be the Google-owned company's third attempt to successfully compete with industry-leaders Spotify and Apple.

What do you think of the idea of a YouTube music streaming service? YouTube Red was initially launched with a heavy focus on originals, but YouTube been shifting its marketing to put a bigger emphasis on ad-free YouTube viewing and music streaming in recent months. That morphed into YouTube Red in 2016, letting users watch any video without advertising. 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.

Homelessness Among Families On The Rise In NH
In San Diego, the number of homeless veterans went down about 10 percent and now is 12 percent of the total homeless population. Thirty states and the District of Columbia reported decreases in homelessness between 2016 and 2017, HUD officials said.

Homes Burning in Bel-Air; 405 Freeway Closed Near Skirball Center
Santa Monica-Malibu schools are all closed, in addition to most private schools in the area such as John Thomas Dye and Buckley. On Wednesday, it reported the Ventura County fire consumed 50,500 acres and forced up to 50,000 people to flee their homes.

Morocco: Arab League to Hold Emergency Meeting On Al Quds On Saturday
Galant: "Following President Trump's historic declaration , I intend to promote and strengthen construction in Jerusalem ". " Jerusalem is at the heart of the issue for all Arabs and Muslims, who will defend their holy places", he insisted.

YouTube must overcome several hurdles to meet a March target.

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

YouTube was not available for comment outside regular business hours.

Latest News