Without major label support, a streaming service can not offer proper content to keep users interested.More news: Sessions spars with interns over marijuana policy, police brutality
Bloomberg reports that the YouTube team is in the process of launching its own music streaming service in March 2018 and that the company has already nailed down at least one major label deal to make that a reality. Talks with Sony and Universal, as well as Merlin-which represents hundreds of independent record labels-are apparently underway. The service will combine both traditional music streaming and music videos, according to the report.More news: Derek McInnes rejects Rangers to stay at Aberdeen
YouTube hasn't had the same success as Apple or Spotify in convincing people to sign up for its paid music services, though it's not for lack of trying. If a new YouTube music streaming service was announced, it would be interesting to see how it would fit in the firm's current portfolio of products. As well, it is believed YouTube has reached out to artists for help with promotion. Not only has YouTube been trying to negotiate new deals with Universal and Sony for more than a year, but it also has a negotiation with Vevo looming early next year.More news: THQ Nordic's Next Title Leaks Ahead of The Game Awards 2017
Making things a little spicier is the fact that music channel Vevo's contract with YouTube reportedly requires re-negotiation early next year. Namely, they have been disappointed in how YouTube Red is not music-centric enough and instead focussed on producing original video content.
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