YouTube is preparing to launch a streaming video service: Report

According to the report, which cited people familiar with the recent discussions, the business has resumed discussions with entertainment organisations about joining the platform, which it is referring to internally as a “channel store.”

Advertisement

The Wall Street Journal published a report on Friday stating that YouTube, a subsidiary of Alphabet Inc., intends to open an online store for streaming video services.

According to the story, which cited people familiar with the recent discussions, the business has resumed discussions with entertainment organisations about joining the platform, which it is referring to internally as a “channel shop.”

According to the article, the platform has been under development for at least 18 months and could launch this fall.

A request for comment from Reuters was not immediately answered by Alphabet.

The upcoming launch would enable YouTube to join businesses like Roku Inc. and Apple in an effort to get a piece of the already crowded streaming industry as more consumers cut the cord on cable or satellite TV and switch to subscription-based streaming services.

The New York Times reported earlier this week that Walmart Inc. had discussions with media companies about incorporating streaming entertainment into its membership service.