From Variety: According to a new Bloomberg report Google is set to launch a new music known as Youtube ‘Remix’ in March 2018. The new service would replace the company’s existing music streaming service, Google Play Music while combining both traditional music streaming and music videos.
Back in February Google combined both the YouTube Music and Google Play Music teams. According to Bloomberg’s report “YouTube must overcome several hurdles to meet a March target including negotiating new deals with Universal and Sony, while talks with Vevo are looming early next year.” Youtube has been YouTube criticized by labels for not compensating them enough, given how much people use the site to listen to music.
Google is trying to play catch up to rivals Spotify and Apple Inc. Spotify has had such in lead in recent years that many competitors are either shutting down or finding it hard to compete. Microsoft recently decided to pull the plug on its Groove Music service choosing to partner with Spotify instead. The report mentioned that YouTube has reached out to artists to seek their help in promoting the new service.