Lookout Spotify and Beats Music: YouTube is coming.
YouTube has been full of surprises recently. A few weeks ago, the video streaming site announced the first-ever YouTube Music Awards, where Tyler, the Creator, Lady Gaga, Eminem and Arcade Fire, among others, will perform at the November 3 awards ceremony. Today, Billboard reports that YouTube is planning to launch its own subscription music service later this year.
According to unnamed sources, the service will be similar to Spotify, but with video. There will be a free option and a premium option that Billboard says will cost "around $10." The latter will give subscribers ad-free, unlimited access to the catalog already offered by YouTube's parent company Google's All Access subscription music service, as well as offline streaming.
If YouTube's subscription music service launches in the next few months, it might have the jump on Beats Music. Beats Music, another subscription music service, is supposed to launch by the end of the year, but there are rumors of a delay. And, of course, YouTube will be in direct competition with Spotify.