Let the battle of the music streaming platforms continue. Looks like Google Play Music won’t be in existence anymore thanks to a new platform called YouTube Remix. Let’s see if this also has what it takes to satisfy users. Its parent company, Alphabet, made Play Music and YouTube Red, will it be enough this time?
According to a new report, Google Play Music and their existing subscribers will allegedly move onto its new music streaming service, YouTube Remix. Sources have not confirmed how Google will phase out Play Music. The company may “do a forced adoption of Remix by the end of this year.”
It seems that Alphabet has known about the new music streaming service for a while. They intended on launching the service this past March (it didn’t, of course). Yet, with two major streaming services already, why would the company launch yet another music streaming service? Maybe because corporate moguls need that large slice of the revenue pie.
YouTube Red and Play Music have around several million paying subscribers. Amazon has tens of millions of users with Prime Music and Music Unlimited. Apple Music has well over 40 million users. To boast, Spotify has over 71 million paying subscribers– they have global streaming music market down to a T and all of these begs the question of which one is the best.
With the launch of YouTube Remix, music streaming profits remain incredibly low. This will be their third attempt to break into the mainstream music market. Spotify pays around $20 per user annually, while YouTube pays under $1. Spotify has over 71 million paying subscribers, and YouTube has over 1.3 billion users streaming for free.
To shed some light on this bold move, head of music Lyor Cohen has promised that the video platform will launch a product you will be proud of. YouTube’s strategy is to inundate their existing users with ads until they pay up. That hasn’t worked with Play Music nor YouTube Red, so is it really going to work this time around?