YouTube is planning to launch a paid music streaming service to compliment its ad-supported and otherwise free music streaming service. According to NBC, YouTube has already signed 95 percent of the major and independent music labels, though not all them are happy about the terms.
This is a crowded space, with Spotify, Pandora, Apple/Beats, and even YouTube's parent company, Google, all vying for what is arguably a growing pie. Even YouTube already has its hat in the ring in the form of an ad-supported service, which is where the complaints come in.
NBC reported that YouTube plans to block content from labels on the ad-supported service if they don't sign that content over to the paid service. According to the Worldwide Independent Music Industry Network, an industry trade group, YouTube is offering "highly unfavorable, and non-negotiable terms."
Say it isn't so—right?—because YouTube is pitching its plans as a humanitarian effort in aide of the music industry. In the context of labels being unhappy, NBC asked about the terms of the deal and YouTube said:
We’re adding subscription-based features for music on YouTube with this in mind — to bring our music partners new revenue streams in addition to the hundreds of millions of dollars YouTube already generates for them each year.
The large corporation doth protest too much, methinks.
Personally, I hope this service does get launched, but only if every song comes with YouTube comments.
Image made with help from Shutterstock.