YouTube is rumored to release a paid music streaming device

Over the past few weeks, there have been plenty of rumours about YouTube getting its own music streaming service. The latest rumours on the topic say that it is true. Furthermore, according to Bloomberg, the company has sorted all the required deals to make it work.

Bloomberg further adds that YouTube has got into an agreement with multiple companies. The companies in question are Universal Music Group and Sony Music Group. Warner Music Group. These three are the largest music labels so it’s a pretty big move that YouTube has done here.

The Universal Music Group has weighed into the topic too. They say the agreement with YouTube will give artists a number of benefits. These benefits include better flexibility and pay.

Moreover, in an effort to entice customers, a few songs and videos will be published exclusively on YouTube. The source further states that Universal might take control of ad-supported channels. The company has asked the video streaming to step up its copyright scanning tech to remove such content as soon as it is uploaded.

YouTube is in a great position to handle this deal due to them being the most popular video streaming platform right now. Anyone can stream music and videos for free. Right holders make their profits off the ads present on YouTube. The main problem between YouTube and music labels have been the lacklustre efforts towards copyrighted content. It seems like the new deal between the two platforms have ironed out these issues.

There is not much information on the upcoming project. However, rumours indicate it might release in early 2018. There is no information on the exact date, the type of content present or the cost of the subscription service. There is even the chance YouTube might restrict free content in an effort to push consumers to its new service.