*By Alisha Haridasani* After a series of stops and starts, YouTube will launch a music streaming service later this month to compete directly with Spotify and Apple Music. The ad-supported YouTube Music will be available to users for free, and an ad-free version, YouTube Music Premium, will cost about $10 a month. There will be a mobile app and a desktop player designed to stream pre-programmed playlists, personalized music suggestions, live performances, and music videos, according to a [statement](https://youtube.googleblog.com/2018/05/youtube-music-new-music-streaming.html) from YouTube. To consolidate its various video and music products, Google will include access to YouTube Music Premium for Google Play Music subscribers at no additional cost. In addition to the standalone music product, YouTube is re-branding its music and video YouTube Red service as YouTube Premium. The ad-free subscription service will go from $10 to $12 a month, but it includes the new ad-free premium music service. YouTubes official entry into the premium music streaming business has been a long time coming: More than 1 billion users a month already use YouTube to “discover new music.” A [study](http://www.ifpi.org/downloads/Music-Consumer-Insight-Report-2017.pdf) published in 2017 estimates that YouTube accounts for 46 percent of time spent online listening to on-demand music. The leading premium music streaming service, Spotify, has 75 million paid subscribers and is expected to hit 96 million by the end of the year. Rival Apple Music [reportedly](https://www.hollywoodreporter.com/news/apple-music-hits-50-million-subscribers-1112018) has 50 million paid and free users.

Share:
More In Technology
$3 Million Stolen in 'Squid Game' Crypto Token Scam; How Can Investors Avoid Similar Schemes?
Earlier this week, crypto investors who got in on a 'Squid Game'-inspired coin were shocked when the asset turned out to be part of a scam. The people involved made off with close to $3 million after the Netflix-inspired coin's valuation went from $0.01 to $3,000 and back down to $0 within several days. CoinDesk Anchor Christine Lee joins Cheddar News' Closing Bell to discuss the pump-and-dump scheme, how investors can be on the lookout for similar scams, and what crypto platform Binance is doing to investigate the incident.
Load More