YouTube Streaming Music Service Will Launch This Year
Mar 06, 2013 12:52
YouTube is going to launch a new music streaming service which will open up a whole new revenue stream for record companies. The plan is to launch a paid-subscription music streaming service later this year, Fortune reports.
A YouTube spokesperson provided the following statement: "While we don't comment on rumor or speculation, there are some content creators that think they would benefit from a subscription revenue stream in addition to ads, so we're looking at that."
A subscription model could provide record companies with a revenue stream that doesn't solely depend on selling ads against music videos.