YouTube is working on a music streaming service and it’s launching in the next few months

THE competitive world of streaming is set to get another shake-up with a new subscription service, currently named Remix, set to launch early next year.

YOUTUBE is reportedly working on a music streaming service to rival the likes of Spotify and Apple Music.

The service, which is pegged to launch in March, is being referred to internally as Remix, reports The Sun.

Warner Music Group, one of the world’s three major record labels, is already said to be signed up, with Sony Music Entertainment and Universal Music Group in talks to follow suit.

Independent label consortium Merlin is also close to getting on board, according to Bloomberg.

YouTube has reportedly already begun reaching out to artists to help with the new service’s promotion.

While YouTube’s existing relationships with music labels could prove promising for securing all-important music exclusives, Google, which owns YouTube, has struggled to compete in this space so far.

Its Google Play Music service hasn’t taken off as it hoped, and its ad-free YouTube Red subscription service hasn’t even launched in the UK.

It’s been suggested that the new service could be a combination of the two, with Spotify-esque music streaming alongside the popular video elements of YouTube.

The staff from the two teams were also merged at the beginning of this year, which makes this theory even more likely.

This story first appeared on The Sun and has been republished with permission.