YouTube plans on launching streaming video service

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YouTube plans on launching streaming video service

Alphabet's YouTube is planning to launch an online store for streaming video services, the Wall Street Journal reported.

The company has renewed talks with entertainment companies about participating in the platform, which it is referring to internally as a "channel store", the report said, citing people close to the recent discussions.

The platform has been in the works for at least 18 months and could be available as early as this spring, the report added.

With more consumers cutting the cord on cable or satellite TV and shifting to subscription-based streaming services, the planned launch will allow YouTube to join companies like Roku and Apple in a bid to gain a portion of the already crowded streaming market.

YouTube operates a Premium subscription offering that lets users view videos without advertising, and access streaming music, on an offline basis as well.

It also offers movies to rent or to buy currently.

Originally bought by Google in 2006, YouTube remains one of the Internet's most popular destinations

It has ove two and half billion users in total, and 122 million daily active ones, making it second only to Facebook, analysts estimate.

Alphabet did not immediately respond to a Reuters request for comment.

Earlier on, the New York Times reported that Walmart has held talks with media companies about including streaming entertainment in its membership service.




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