2018 is going to start with a bang: YouTube looks set to launch a new music streaming service in March next year.
The platform, codenamed ‘Remix’, will reportedly bring together an on-demand Spotify-like paid audio service with video clips.
According to Bloomberg, Warner Music Group has already inked a licensing deal for the platform.
Universal, Sony and independent rights group Merlin are believed to be in discussions with YouTube but are yet to sign an agreement.
The Google/Alphabet company is keen to launch ‘Remix’ in March, but is reliant on getting these licensing deals over the line.
Making things a little spicier is the fact that music channel Vevo’s contract with YouTube reportedly requires re-negotiation early next year.
Vevo is majority owned by Universal and Sony.
Whichever brand ‘Remix’ officially adopts in 2018, it looks like to replace Google Play Music, which first launched in 2011.
Google’s worldwide music boss Lyor Cohen has previously spoken of the possibilities of bringing together Google Play Music’s paid service with elements of YouTube.
Google Play Music staff were folded into the YouTube team earlier this year.Music Business Worldwide