YouTube Planning Launch Of Paid Music Streaming Service, Major Labels Already On Board

Google's billion dollar purchase of YouTube was certainly a wise buy, but it's been some time now since the service has innovated in a huge way -- particularly on the financial front. Now, according to reports, YouTube is planning to launch a paid streaming music service. Though it may be tough to believe, YouTube is actually a primary source of music listening for many nations around the world. If you want to hear a song, just search for it on YouTube and either listen to the video or listen to a clip uploaded from a fan.

However, YouTube has faced lots of criticism over the years from music labels who suspect that uploads don't agree to their terms. With this service, YouTube would be partnering with said labels and sharing some of the spoils. Even still, terms of the streaming music deal are reportedly rubbing some artists and labels the wrong way, proving that you can't please everyone.

YouTube's statement on the matter: "We’re adding subscription-based features for music on YouTube with this in mind - to bring our music partners new revenue streams in addition to the hundreds of millions of dollars YouTube already generates for them each year." Once launched, it'll allow users to listen to music on YouTube without advertisements, and it's rumored that offline listening will be included as well. Plus, users will be able to stream entire albums, not just individual jams.

One has to wonder what level of success YouTube will have here, though. YouTube's allure has largely been its free nature, and throwing a paid element into things this late in the game could push some folks away to alternative video sources.