Like well-known service Spotify, the rumored feature will give YouTube users the option of watching music videos for free with ads, or paying $10 a month to remove them.
According to Billboard, both the free and paid versions of the service will allow unlimited access to the music on YouTube, but the premium service would allow to stream albums and cache music for offline listening.
However, it’s not known when the popular video service intends to launch the novelty, “but the market for subscription music services is heating up, with the likes of Spotify, Deezer, and Last.fm already offering millions of music tracks via their online music libraries,” reports The Telegraph.
Some analysts predict that YouTube would launch its new service ahead of Beats Music, which is expected to be revealed later this year.
The well-known video service has already secured most of the licenses it needs to launch a music feature, via its parent company Google’s All Access service, which launched in May.
“Having a paid tier, with all the required licenses for a premium on-demand product, would give YouTube more flexibility in packaging and selling music”, writes The Telegraph.
Such a service could is predicted to be integrated with other Google products in the future, such as long-rumored Google Glass.
YouTube declined to comment on its plans: “We’re always working on new and better ways for people to enjoy YouTube content across all screens, and on giving partners more opportunities to reach their fans. However, we have nothing to announce at this time,” the company said in a statement.
The news comes a few weeks after YouTube announced a deal to become part of the BBC’s new Playlister service, which lets users save their favourite tracks broadcast on BBC radio stations to a personal online playlist. This playlist can later be exported to Spotify, YouTube or Deezer, where the tracks can be heard in full.
“We’re delighted that through BBC Playlister, YouTube’s community of passionate music fans can access and share the music content they love from their favourite BBC shows by easily exporting playlists directly to YouTube,” said Ben McOwen Wilson, director of content partnerships for YouTube in Europe, at the time.
Back in September the video-streaming service announced that it is creating its own awards-show, directed by Spike Jonze in the middle of NYC.
It has recently announced the list of the nominees for several nominations.
Thus, the list of the nominations is as following: best video (Justin Bieber, Miley Cyrus, Psy, Epic Rap Battles of History – Barack Obama vs Mitt Romney among the nominees), best artist (Eminem, Katy Perry and other celebrities).
The unusual nomination named “Response of the year” created for unofficial fan videos honoring the best fan remix, parody, or response video, YouTube phenomenon (“recognizing the YouTube trends the world could not escape from” – of course, Psy is among the nominees here).
Digital Trends writes: “YouTube breakthrough (nominees includes artists who experienced the biggest growth in views and subscribers, and include Kendrick Lamar, Passenger and Rudimental, among others), and innovation of the year(creative video innovations selected by an international panel comprising musicians, YouTubers and creative luminaries).”
The performance will be hosted by actor Jason Schwartzman and comedian and musician Reggie Watts, reports claim.