YouTube revamps its streaming music service

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YouTube Music is the music streaming side of the equation.

The news sent stocks of music streaming companies Spotify and Pandora lower by about 2 percent on Thursday morning. YouTube's latest push into paid music streaming faces stiff competition from rivals that already command massive audiences.

Google is fundamentally streamlining the world's biggest online source of online audio-video content, YouTube.

That blitz will include prominent spots on YouTube's website, timed around popular music videos and events.

Free, ad-supported accounts will be available, while the subscription tier, YouTube Music Premium, will cost $9.99 (about £7.40) a month.

As per some reports, Google Play Music would be gradually expired, and YouTube Music would be the only streaming music service from YouTube. The app is free, however, it contains some ads, but there is also an advertisement-free version that contains some more features.

Although YouTube Music was part of Youtube Red before, now, it is now being offered as a standalone service. YouTube Music isn't out to replace it.

YouTube Music will appear in a brand new music-friendly mobile app and desktop player.

As for the YouTube Premium subscribers of the new service will be able to watch original YouTube content without ads, play videos in the background, you can download videos and view exclusive content. Music labels have pressed streaming companies for a greater share of revenue and more ways for listeners to pay for music.

YouTube Premium is basically the new YouTube Red, by the way. Lyor Cohen, head of YouTube Music, said the company spent the past year rebuilding ties with record labels and artists. YouTube Originals library will get enlarged with comedies, dramas, reality series and action-adventure shows from the U.K., Germany, France, Mexico, and more.

With the increasing penetration of smartphones, data becoming affordable and ever-growing availability of content, 80 per cent of internet users across all age-groups in India are accessing YouTube.

YouTube never reveals just how many people use YouTube Music or YouTube Red, but its services have largely operated behind the dominance of Spotify, which boasts 75 million paying users, and Apple Music, which is steadily catching Spotify's pace in terms of growth. This means they will get access to YouTube Premium in $9.99 (for the US). Do it now at a reduced price.

YouTube Music and YouTube Premium will be available in the United States, Australia, New Zealand, Mexico, and South Korea.

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