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YouTube Music, a New Streaming Service, to Roll Out May 22

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05/17/2018 | 07:55am CEST

By WSJ Staff

Google said its YouTube unit would roll out a new music-streaming service, YouTube Music, on May 22.

In a statement dated Wednesday on its official blog, YouTube said its new service would include a "reimagined mobile app" and a new desktop player designed for music.

The service will feature "thousands of playlists, the official versions of millions of songs, albums, artist radio and more." The new service will be introduced in the U.S., Australia, New Zealand, Mexico and South Korea, the company said. It will be expanded more broadly in coming weeks.

"While fans can enjoy the new ad-supported version of YouTube Music for free, we're also launching YouTube Music Premium, a paid membership that gives you background listening, downloads and an ad-free experience for $9.99 a month," YouTube said.

In addition, YouTube said it would now call its YouTube Red subscription service YouTube Premium. It will include YouTube Music and existing YouTube Red video programming.

Google's parent is Alphabet.

With the coming rollout, the company will dive deeper into a space already populated with other heavyweight players. Earlier this yera, Stockholm-based streaming-music service provider Spotify Technology SA went public in New York, while for Apple music has become a major contributor to its important services segment. YouTube Red is a rival of Netflix and Amazon.com Inc.'s (AMZN) video subscription services, among others.

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET -2.06% 1232.22 Delayed Quote.16.98%
AMAZON.COM -1.93% 1882.62 Delayed Quote.60.98%
APPLE 0.23% 210.24 Delayed Quote.24.23%
SPOTIFY TECHNOLOGY SA -1.77% 190.33 Delayed Quote.0.00%
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Financials ($)
Sales 2018 137 B
EBIT 2018 28 128 M
Net income 2018 28 237 M
Finance 2018 82 375 M
Yield 2018 -
P/E ratio 2018 31,16
P/E ratio 2019 25,66
EV / Sales 2018 5,74x
EV / Sales 2019 4,62x
Capitalization 870 B
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Average target price 1 365 $
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