#CBC: “YouTube to launch new music streaming service ” #Toronto #Montreal #Calgary #Ottawa #Canada

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Google’s YouTube will launch a music streaming service subsequent week, it stated on Thursday, trying to make use of its standard web video model to faucet the rising marketplace for paid music streaming.

YouTube Music, which can supply each ad-supported and $9.99 US-per-month variations, will compete immediately with providers from Spotify Technology SA, Pandora Media Inc, Apple Inc and Amazon.com Inc.

YouTube Music will launch on May 22, and embody options reminiscent of customized playlists based mostly on a consumer’s YouTube historical past. The service is anticipated to finally exchange Google Play Music, the Alphabet Inc unit’s current music streaming model.

The information despatched shares of music streaming corporations Spotify and Pandora decrease by about 2 % on Thursday morning.

“Google has an advantage given YouTube’s more than a billion users and viewers. So, it has opportunities to convert some into YouTube Music listeners or premium subscribers,” stated Ali Mogharabi, analyst at Morningstar Research.

The rising adoption of paid music streaming has helped wean a era of music listeners away from free or pirated music, and has led to providers reminiscent of Spotify and Apple Music turning into the recording trade’s single largest income supply.

Revenue from music streaming providers overtook gross sales of CDs and digital downloads for the primary time in 2017, in accordance with the International Federation of the Phonographic Industry.

YouTube Music will launch within the United States, Australia, New Zealand, Mexico and South Korea on May 22. It will roll out to extra nations, together with Canada, within the following weeks.

Separately on Thursday, YouTube additionally stated it might revamp YouTube Red, the paid model of YouTube that comes with unique programming, to incorporate YouTube Music at an extra worth of $2 US.

YouTube Premium, which can exchange YouTube Red, will price $11.99 US.

Note: “Previously Published on: 2018-05-17 15:16:46, as ‘YouTube to launch new music streaming service

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