According to a source of Bloomberg, YouTube is currently working on a new music subscription service known internally as Remix to compete with Apple Music and Spotify.
If you’re as confused as we are, you have every right to be.
Remix is apparently YouTube’s attempt to please music publishers with more revenue from music placed on its service. With YouTube continually pulling in major online traffic, a lot of which is dedicated to music streaming, music executives want in on the action.
But what about YouTube Red, isn’t that good enough? Well, apparently not, and Remix will be more focused solely on music, not just removing ads from videos the user wants to watch. As the source states, Remix would include Spotify-like on-demand streaming of tunes and would also incorporate video clips from YouTube. If that sounds a lot like what YouTube already is, but with a monthly price attached, then now you know why Remix sounds ridiculous.
Detailed in the report, YouTube is attempting to negotiate deals with Sony Music Entertainment and Universal Music Group to have them included in this service, with Warner Music Group already signed on.
The service is reported to launch this upcoming March, so we’re sure to hear more about it as we get closer to that time.
What’s your take on this news?