YouTube plans to introduce a paid music service in March next year. This is the third attempt by parent company Alphabet Inc. to catch up with rivals Spotify and Apple Inc.
YouTube’s music head Lyor Cohen revealed that the company had plans to combine its YouTube Red video subscription service with its existing Google Play Music offering. The product’s launch depends on YouTube cutting deals with two of the three big music publishers, Sony Music Entertainment and Universal Music Group. Warner Music Group, the third big publisher, has already come on board.
The service, internally referred to as Remix will compete with similar offerings from Spotify and Apple Inc.
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