YouTube may launch its own streaming music service in 2018

The service could be called Remix

The service could be called Remix

Google is getting ready to launch its new music subscription service under YouTube 's brand in march, according to a new Bloomberg report. Talks with Sony and Universal, as well as Merlin-which represents hundreds of independent record labels-are apparently underway.

The service will tentatively be called Remix, and while YouTube's parent company Alphabet Inc. hasn't officially announced anything, people familiar with the move told Bloomberg that Warner Music Group is already on board.

At the time, the company was planning to launch the new service later this year.

Paid services from Spotify and Apple Music have spurred a recovery in the music business, which is growing again after nearly two decades of decline.

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YouTube has always been seen as one of the biggest obstacles for musical artists and labels, seeing as it's a go-to site for streaming free music. Without major label support, a streaming service can not offer proper content to keep users interested. Once the deals are finalized, which seems inevitable at this point, then that means YouTube will have a streaming music option that's in the same vein as Spotify, Apple Music, and, yes, Google Play Music.

YouTube must overcome several hurdles to meet a March target.

Though the music industry had hoped Red would be devoted to music, YouTube has positioned it as a home for original video projects like science-fiction comedy "Lazer Team" and a reboot of "The Karate Kid".

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