Google to Launch New YouTube Music Service in March

Tube icon is seen in front of a displayed You Tube logo in this illustration taken

Spotify is the giant, and it only offers a streaming music option.

In a new report, YouTube could introduce a brand new music streaming service sometime in March. Only Warner has already signed on for the service, according to the report. Music Group. However, it is still in talks with Sony Music Entertainment, Merlin and the Universal Music Group regarding the details of the music streaming service.

Alphabet no doubt wants a part of the growing music streaming market.

YouTube 's new music service, which is reportedly internally known as Remix, will be the successor of the company's existing music streaming service, Google Play Music. In addition to this, with other companies charging their way through subscriptions, it would be fascinating to see how it positions itself.

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

More than 1 billion users visit YouTube each month and music industry executives say the service does not pay enough to compensate them for the loss in revenues. However, there has been no final statements registered as to what the service will be called.

Warner Music Group has reportedly already signed on to the service, while Universal Music Group, Sony Music Entertainment and independent label digital rights agency Merlin are now in talks. Nonetheless, we will find it out in the coming days as the launch nears.

According to Bloomberg, this new service would appease record executives who have been very critical when it comes to streaming services in general.

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