YouTube is Reportedly Venturing Into the Streaming Business

YouTube which launched subscription service YouTube Red in 2016, is considering calling its new service "Remix," adding it "would include Spotify-like on-demand streaming and would incorporate elements from YouTube, such as video clips," according to Bloomberg. 

YouTube, which has been getting pressure from record executives to provide more revenue opportunities, has already nailed down a partnership with Warner Music Group, the site reports. And deals with Sony Music Entertainment, Universal Music Group may not be far behind. YouTube is also reportedly reaching out to artists independently to nail down promotion strategies.

The site predicts Remix will be some combination of the existing YouTube Red and Google Play Music.
While Spotify boasts 140 monthly users, 50 million of which are paid subscribers, and Apple Music has drawn 30 million subscribers, YouTube Red has only nailed down 1.5 million subscribers, and has not release data about Google Play Music users, according to The Verge.
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YouTube: Remix could up and running as soon as March 2018.