YouTube to launch 'Remix' music streaming service in March
The new service, internally referred to as 'Remix', according to people familiar with the matter, would combine traditional on-demand streaming in the vein of Spotify and Apple Music music videos. According to the report, the service's future depends on YouTube getting the three big music publishers on board with the idea. Warner Music Group is reportedly already singed on, which leaves Sony Music Entertainment and Universal Music Group. YouTube also has a negotiation coming up early next year with Vevo, which is owned by Universal and Sony, and controls a large pool of music videos.
Over the years, YouTube has been criticised by artists and labels alike for its lax approach to copyright infringements and inadequate compensations, despite the fact that music videos are among the most popular types of content on the platform, which is something that YouTube will have to overcome if it wants a lice of the streaming market. Furthermore, it's not going to be easy for YouTube if it wants to compete with Apple Music and Spotify, which currently have over 27 and 60 million subscribers, respectively.
source: Bloomberg
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