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YouTube to launch a new Spotify rival, codenamed 'Remix', in 2018

08 December, 2017, 07:56 | Author: Nadine Todd
  • CREDIT Google

Spotify is the giant, and it only offers a streaming music option.

YouTube will launch a music streaming service next March, according to report published today by Bloomberg. Music Group. However, it is still in talks with Sony Music Entertainment, Merlin and the Universal Music Group regarding the details of the music streaming service.

The new service could help appease record-industry executives who have pushed for more revenue from YouTube.

YouTube 's new music service, which is reportedly internally known as Remix, will be the successor of the company's existing music streaming service, Google Play Music.

Tentatively called Remix, the platform has already secured rights from Warner Music Group. As well, it is believed YouTube has reached out to artists for help with promotion.

According to the report, YouTube has already finalized a deal with Warner Bros Music Group and is now in talks with Sony Music Entertainment, Merlin (a label covering independent artists), and Universal Music Group.

As per Bloomberg's report, YouTube is finalizing the necessary deals to launch its own music streaming service.

Though the music industry had hoped Red would be devoted to music, YouTube has positioned it as a home for original video projects like science-fiction comedy "Lazer Team" and a reboot of "The Karate Kid". According to Bloomberg Remix will feature on demand music similar to Spotify and also include video clips.

At the time, the company was planning to launch the new service later this year.

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