Youtube, the largest video sharing site in the webverse, will go head-to-head versus paid music streaming services such as Spotify and Apple Music.
According to reports, Google has already spoken with different record labels to develop its own streaming service. Youtube is also “planning” to merge Google Play Music and Youtube Red to create a new streaming offering.
In a statement to The Verge, Google clarified that it is still in the evaluation process: “Music is very important to Google and we’re evaluating how to bring together our music offerings to deliver the best possible product for our users, music partners and artists. Nothing will change for users today and we’ll provide plenty of notice before any changes are made.”
Youtube has a huge advantage in terms of its large pack of video and music catalogs. To defeat Spotify in terms of service and cost of streaming is another story. But one thing is for sure, Youtube will be a game changer in a money-spinning music streaming service industry.
Spotify had almost 60 million paying subscribers worldwide as of July 2017, which almost doubled from 30 Million subscribers way back of March 2016.