YouTube could launch a new music streaming service in March

YouTube to launch a new Spotify rival, codenamed 'Remix', in 2018

YouTube reportedly plans new paid music streaming service

While the details haven't been completely hashed out yet, this could be an interesting attempt once again by the company to really enter into the music streaming segment. The giants of the industry like Spotify and Apple Music have secured a safe spot, gathering a huge number of subscribers and active users.

According to the report issued by Bloomberg, YouTube is working its way up to introduce its music streaming service similar to Apple Music, Spotify, and others.

According to Bloomberg, Warner Music Group has already inked a licensing deal for the platform.

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If the deals go through and the service is launched this should go some way in helping to appease the music industry, with YouTube coming under for years over not stringent enough copyright infringement policing and not paying artists and labels their dues. Google introduced audio-only streaming service Google Play Music in 2011.

According to the report, YouTube has already finalized a deal with Warner Bros Music Group and is now in talks with Sony Music Entertainment, Merlin (a label covering independent artists), and Universal Music Group. The service is being called "Remix" internally, but there's no word on what it might be called when it does go live.

Google's worldwide music boss Lyor Cohen has previously spoken of the possibilities of bringing together Google Play Music's paid service with elements of YouTube. Apart from this, the company has also been reaching out to artists to market its service when it is launched.

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