YouTube to Launch New Music Subscription Service in March (bloomberg.com)

An anonymous reader shares a report: YouTube plans to introduce a paid music service in March, according to people familiar with the matter, a third attempt by parent company Alphabet Inc. to catch up with rivals Spotify and Apple. The new service could help appease record-industry executives who have pushed for more revenue from YouTube. 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. YouTube is also in talks with the two others, Sony Music Entertainment and Universal Music Group, and Merlin, a consortium of independent labels, the people said.

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[Anonymous Coward]

People need to understand that it's the giant major labels that are pushing for this. They're the ones raking in the money while the artists are making 1/100 1/1000 of a cent per stream. For independent unsigned artists that release albums on their own are screwed even more because the revenue go to these record companies even though the independent artists have absolutely nothing to do with these labels.