Reports have come in that Youtube, the biggest video platform on the planet is looking at launching a subscription based music streaming feature. This seems to be targeted at the web and other mobile platforms besides Android. Android will be getting similar functionalities via its Google Play store. Google Play’s music service is more of a place to store the music that you have purchased online and put into their cloud locker. Youtube on the other hand will be getting streaming functionalities, specifically related to music, after partnerships with record labels. Youtube already has its Content ID system in place. It allows videos to be tagged and matched to a particular artist thus giving them revenue based on ads.
This information was revealed to Fortune by sources who did not wish to be named. Youtube has not really denied this yet, so there must be significant truth to the fact that music streaming must be coming soon to the video sharing site. Youtube is seriously well positioned to turn its entire video database into a streaming service due to the tonnes of content (both official and user uploaded content) which they have been aggregating over the years. I mean, this news is a little weird to people who are already using Youtube to get their doses of free music everyday. However, now Youtube will be officially making this a product. There are no details on what features the subscription service will unlock compared to the normal way to listen to music on Youtube but the most obvious thing would definitely be an ad-free listening functionality.
Music streaming, especially in the US and UK is a fairly crowded market with multiple services like Pandora, Spotify, RDIO, Deezer, Soundcloud and other competing to get a slice of the segment. In India, we have Saavn, Dhingana, Gaana, Hungama etc, but a large majority of Internet using Indians use Youtube for their music fix. I believe Youtube could give stiff competition to other existing services when it launches in India. This is also true globally. Other like Apple and Beats Music are also working on their own music streaming services. Although choice is always good, I believe that once Youtube comes into the picture, other music streaming companies will definitely feel the pinch. The only one who stand to benefit the most from Youtube coming into the space are artists and listeners.
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Story Source | Fortune