The music industry has been pushing Google to monetize YouTube beyond just advertising since shortly after its launch 10 years ago. After more than a year of beta trails and rumored launch dates, a subscription version of YouTube along with a new companion music service are finally nearing launch.
The email from YouTube to content creators and rightsholders warns that they need to sign a new agreement by Oct. 22 or their “videos will no longer be available for public display or monetization in the United States.”
YouTube's new offering will bundle two different services - an update of its YouTube Music Key streaming service and a new ad free version of YouTube, sources tell Re/code. The bundle is rumored to be priced at $10 a month.
A combined service - unlimited streaming + ad free YouTube - may not return the revenue that labels and artists have been hoping for, but it is likely to be hailed as a step in the right direction.