YouTube music streaming media service to compete with Spotify
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- June 19th, 2014
YouTube music streaming media service is coming. This new platform will most likely launch alongside the new Android mobile operating system upgrade. However, some reports criticized Google’s decision to block indie labels not joining the new program.
YouTube Music is expanding from videos to streaming media just like Spotify, Beats Music or iTunes Radio. As reported by Guardian, Google is set to use the YouTube brand and launch its very own “Spotify” allowing customers to access millions of songs on supported devices including smartphones while paying monthly subscription. Additional sources confirm that this new feature will launch with the upcoming Android mobile operating system update — arriving later this year.
YouTube music service will put Google and its popular mobile platform on a better in the midst of growing demand for streaming media consumption. The confirmation from the Mountain View-based tech giant appears just weeks after Apple announced its $3 billion-worth acquisition of Beats Electronics, maker of headphones, headsets and ear buds, and the company behind Beats Music.
Robert Kyncl, Google’s YouTube content and business operations confirmed to The Financial Times that they’re already working with the service — but here’s the interesting part of the story, Google is reportedly set to ban many indie labels that will not participate. In short, videos from labels that haven’t agreed to the streaming music service’s licensing terms will not appear in YouTube.com, the most popular video sharing site in the world. Many sites are already criticizing this decision — and hopefully, this will not push through.Speaking of pushing through, it’s quite obvious that the competition is heating up in the streaming business, and it will most likely give the music industry a new revenue stream. No word yet about pricing details, but there’s a possibility that Google will put the YouTube Music streaming subscription on a much lower price point to grab attention and to lure customers from Apple’s services, and of course, Spotify Music which is currently one of the biggest in terms of subscription volume.
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