There are still a few months left for YouTube to make things happen and it will certainly be interesting to see how things develop. Now, on the back of the success of Spotify and Apple, they are beginning to recover. Warner Music Group, one of the world's three major record labels, has already signed on, said the people, who asked not to be identified discussing private talks. Google introduced audio-only streaming service Google Play Music in 2011.
Google's worldwide music boss Lyor Cohen has previously spoken of the possibilities of bringing together Google Play Music's paid service with elements of YouTube. YouTube launched ad-free, subscription-based YouTube Red in 2016 featuring exclusive video content from popular creators such as Lilly Singh Michael Stevens.
"The new service could help appease record-industry executives who have pushed for more revenue from YouTube".
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Vevo is majority owned by Universal and Sony.
According to Bloomberg, the new service is planned to arrive in March and is now being referred to internally as Remix.
YouTube hired former Warner Music executive Lyor Cohen past year to help oversee its music operations and serve as a liaison to the record business.
The Google/Alphabet company is keen to launch "Remix" in March, but is reliant on getting these licensing deals over the line.