YouTube plans to launch a music-streaming service
Alphabet, the parent company of YouTube, will launch music-streaming service Remix in March 2018, according to reports. Warner Music Group is said to have already signed up for the service, with talks going on with independent label consortium Merlin, as well as Sony Music Entertainment and Universal Music Group. No pricing details have been released. Remix marks Alphabet's third foray into the increasingly competitive sector, following Google Play Music in 2011 and YouTube Music Key, launched in 2014 and rebranded as YouTube Red two years later.

Spotify and Apple Music may have a new streaming rival in 2018.

YouTube is planning to launch a standalone paid music streaming service in March 2018, according to a report at Bloomberg.

According to sources, the service will be called Remix and is expected to feature on-demand music streaming like Spotify alongside a video clip element borrowed from YouTube. No pricing details have been confirmed as yet.

Remix wouldn’t be the first time that YouTube’s parent company Alphabet has launched a streaming service: as well as Google Play Music, launched in 2011, there was 2014’s ad-free music video service YouTube Music Key, which turned into subscription service YouTube Red in 2016.

According to Bloomberg’s report, Warner Music Group has already signed onto the service with Sony Music Entertainment, Universal Music Group and independent label consortium Merlin also said to be in talks.

Remix will be entering a crowded marketplace: as well as Spotify, Apple Music and Tidal, the new streaming service will also have Amazon’s recent Music Unlimited to contend with.

Read next: How the technology behind Bitcoin could change the music industry – and help everyone get paid