YouTube to launch Spotify rival streaming music service in 2018

CREDIT Google

Considering that more than a billion people watch YouTube videos every month, it's not hard to see why they'd like to get more money out of the service.

Remix wouldn't be the first time that YouTube's parent company Alphabet has launched a streaming service: as well as Google Play Music, launched in 2011, there was 2014's ad-free music video service YouTube Music Key, which turned into subscription service YouTube Red in 2016.

Neither has made much progress gaining paid subscribers - at least compared to Spotify, Apple, or Amazon.

According to a source of Bloomberg, YouTube is now working on a new music subscription service known internally as Remix to compete with Apple Music and Spotify.

While YouTube's existing relationships with music labels could prove promising for securing all-important music exclusives, Google, which owns YouTube, has struggled to compete in this space so far.

Drake, Moana Top Apple Charts in 2017
For Apple Music , the most popular album was Drake's More Life and Ed Sheeran snagged the most popular song with Shape of You . Affinity Photo was chosen as the best iPad app , Aurora HDR 2018 is the best Mac app and ChefsFeed is the #1 Apple TV app.

Google does many things well, but one thing it struggles with is coming up with a paid streaming music service that can keep up with Spotify and Apple Music.

Record label Warner Music Group has already confirmed its participation, the sources said.

Music streaming company Spotify and the music arm of China's Tencent Holdings Ltd will buy minority stakes in each other's businesses, the companies said in a statement on Friday. Major advertisers have also abandoned YouTube after two renowned publications discovered that the video service had monetized videos with pedophiliac comments.

Making things a little spicier is the fact that music channel Vevo's contract with YouTube reportedly requires re-negotiation early next year.

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