As it stands YouTube has their own music subscription service, but recently we have heard rumors that YouTube could be planning a new service called “Remix”. Whether or not those rumors are true remains to be seen, but there could be some evidence to show that YouTube is indeed working towards that.

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According to a report from Bloomberg, YouTube is said to have recently signed a new long-term agreement with both Universal Music Group and Sony Music Entertainment, both of whom represent the major labels in the music industry today, along with Warner who according to the previous report, had already signed a deal with YouTube.

This new agreement is said to offer stronger policing of uploads of copyrighted music by non-authorized personnel, and according to Universal, it will help give artists more flexibility and better pay. Sony has yet to confirm the deal and have declined to comment on Bloomberg’s article. The report goes on to suggest that this new deal with the labels will help YouTube pave the way to launch their rumored new music streaming service.

As it stands there are already quite a few streaming services around and YouTube’s rumored new service will no doubt find itself in an extremely competitive space. Whether or not it will have what it takes to compete with the likes of Spotify remains to be seen.

Filed in Audio. Read more about Entertainment, Music and YouTube.

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