Another music streaming platform is in the works.
YouTube’s latest streaming venture, simply titled Remix, will see its debut next March according to reports published to Bloomberg. Lyor Cohen, head of YouTube’s music department, reveals that the company has plans to combine its YouTube Red subscription service along with Google Play Music. This fusion comes after years of seemingly confusing attempts to rebrand and relaunch their various streaming services. However, with this forthcoming multimedia channel, YouTube will try to enter into the ranks of Spotify and Apple Music as a streaming giant.
The launch is primarily dependent on YouTube having severed deals with two of the three major music publishers, Sony Music Entertainment and Universal Music Group. However, the third most prominent publisher Warner Music Group has reportedly signed under newer, more generous terms.
For years, YouTube has been criticized by artists and labels alike for abysmal payouts based on views, as well as its particularly lax approach to copyright infringement streams. The platform will have to overcome this obstacle, as well as a renegotiation with label-owned Vevo, in order to gain industry respect and situate themselves amongst the most profitable streaming services.
YouTube has repeatedly tried to generate products geared towards the ever-changing ways in which North American audiences consume music. YouTube Red, Google Music Play, and YouTube Music Key have all been created to try and gain a prominence in the era of streaming. However, YouTube Music Key’s 1.5 million subscribers (it’s 2016 estimate) pails in comparison to Spotify’s 50 million and Apple’s Music’s equally abundant 30 million paid users.
Only time will tell if Remix will have a viable chance at success in a seemingly oversaturated arena of streaming, where even Kanye West will try and carve out a presence with his rumoured Yeezy Sound service.