YouTube to launch a paid music service
- Author: Essie Rivera Dec 10, 2017,
Dec 10, 2017, 2:07
In comparison, Spotify now has 140 million monthly users, 50 million of which are paying for a monthly subscription. Remix (not the final name of course) is aiming to compete with the music streaming giants, but with the additional elements of video as an extension of YouTube. Yet major record labels say the growth would be even more significant if not for YouTube, which they criticize for not compensating them enough, considering how much people use the site to listen to tunes. Apart from this, the company is in talks with independent label consortium Merlin to be linked in it as well.
"Alexa for Business brings the Alexa you know and love into the workplace to help all types of workers to be more productive and organized on both personal and shared Echo devices", said Tara Walker of Amazon Web Services in a blog post.
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. Music is one of the most popular genres of video on YouTube, which attracts more than a billion users a month.
The company must overcome several hurdles if it aims to meet a March target.
Google earlier this week again cut off access to YouTube on Amazon devices such as the Echo Show and the Fire TV stick. Vevo, owned by Universal and Sony, distributes music videos for their acts. Warner Music Group, on the other hand, seems to have already agreed to the deals. Lyor Cohen, formerly of Warner Music Group, has been acting as a liaison to the industry and overseeing the project. If you love to have such a platform from where you can explore all the videos of your favourite artists and other music, YouTube is launching its Music Service platform very soon. The stock is up 32 percent this year.