YouTube to launch new subscription music service
YouTube is working on a new on-demand music service. The reports aren’t coming from the top video sharing site, but from different news quarters in the industry. According to insider reports, the new music service will be offered in a free and a paid version. YouTube is currently the largest video sharing and publishing website. Currently, the Google-owned site is one of the most lucrative advertising options on the web, with expected 2013 revenue figures to be in excess of $3.7 billion.
Google already has a subscription music service. Google Music was launched at Google I/O and offers unlimited skips and corrected content at $9.99 a month. Google has secured most of the content licenses required for launching the new service. YouTube fans will ponder what the differences between the two products are going to be. The simplest major difference is video.
The new YouTube service will have music videos. The service has not yet been named, but most experts are calling it YouTube Music for the time being. The paid version is going to be free of ads and it’ll allow offline viewing or listening.
The free version is going to offer a lot of attractive features that’ll enable Google to attract a larger audience and more ads. Insider reports claim that the free service is going to offer limitless, on-demand access to multi-platform, full-tracks. This includes the mobile platform. The paid version is expected to be nothing more than a “soft sell” because YouTube wants to gather as much audience as possible for the mobile platform for selling ads.
Industry experts claim that although it’s a new subscription service, ‘subscription’ is not the primary goal for YouTube Music, especially in comparison to Google Music. Because YouTube already has so much music content available free, selling users to a subscription based product is going to be a big challenge.
It’s expected that YouTube may offer additional services to make the paid version appear lucrative to the masses, especially the young users.