It is a great platform for individuals and companies from different domains to market their work.
Moreover, it offers a great opportunity to earn bucks on getting sizeable views. To add more, Google’s parent Alphabet is working on Paid Music Streaming service. Presently, Spotify and Apple run this service, and so YouTube is getting on the bandwagon.
Adding more service:
The search engine already has Google Play Music, YouTube Red and YouTube Music. But in coming month it will launch Remix, which will combine audio-only Google Play Music and video-focused content of YouTube Red. However, the existence depends on three major publishers, which can also bring problem because all three current platforms are criticized for the policies of copyrighted contents.
Delay in Process:
According to the news, among the top music publishers, Warner Music Group has signed on the dotted lines for the new project, but Sony Music and Universal are still considering it before going ahead. If the deal isn’t signed in near time, then the launch would delay.
For Google, the launch of Remix would be a challenging part, as it needs to face current market leaders like Spotify which has 50 million paid users out of 150 million users; Apple Music has 30 million paid users. Meanwhile, YouTube Red has 1.5 million subscribers.