Google to Launch New YouTube Music Service in March

Google to Launch New YouTube Music Service in March

Tentatively called Remix, the platform has already secured rights from Warner Music Group.

YouTube hasn't had the same success as Apple or Spotify in convincing people to sign up for its paid music services, though it's not for lack of trying.

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

YouTube has plans to release a new paid music service next spring, Bloomberg reports citing anonymous sources familiar with the matter. YouTube is also presently in talks with Sony Music Entertainment, Universal Music Group and the Merlin Network of independent labels.

Paid services from Spotify and Apple Music have spurred a recovery in the music business, which is growing again after nearly two decades of decline.

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

The one major advantage YouTube could have over its rivals is a huge catalog of video content to complement its music library.

If the deals go through and the service is launched this should go some way in helping to appease the music industry, with YouTube coming under for years over not stringent enough copyright infringement policing and not paying artists and labels their dues.

Within the YouTube team, the music streaming is being referred to as "Remix".

The platform, codenamed "Remix", will reportedly bring together an on-demand Spotify-like paid audio service with video clips.