I am sure the three PayPal employees, who activated a domain name called ‘YouTube.com’ to share videos, wouldn’t have expected it to become so popular. Started in 2005, the website soon picked up and gained rapid fame in a year’s time. Sharing videos online was a novelty and people became instantly interested in the concept. Today, YouTube is one of the most popular social networking sites. The website has been renovated over the years and it looks like there might be a major addition in future.
With social media becoming a part of people’s lives, it is not surprising to see social media developing and branching out. Streaming music is another form of social networking that has gained popularity amongst the people.
Streaming music and YouTube:
The ‘streaming music’ industry has started to flourish as people have started to make use of different tunes every day. It looks like YouTube will soon jump into the market as well. The record industry is still apprehensive about streaming music as there are still questions on the profits one gets from this source. However, major players have started entering the market and it is providing big opportunities for websites like YouTube. An added advantage the website is going to have is the 800-million-and-counting active monthly users!
Will there be radio stations in YouTube soon?
Various sources off late have claimed that Google is having plans of starting radio stations on YouTube. There is going to be two versions of radio stations. One is a free subscription that will carry advertisements when the radio is tuned-in. The second option is a paid subscription with radio stations that come free of advertisements based on Google Play which is a music app compatible on Android platforms.
The feasibility of music streaming service:
Though the service will definitely have various advantages to the users, I am not sure how profitable or viable it is going to be for recording houses. As such, the music market is dwindling, thanks to free online downloads, pirated music copies and the overwhelmingly crowded streaming market. If a website like YouTube is going to offer streaming services, there might be a further hit to the money making side of the music industry. However, streaming across popular websites will definitely help gain more popularity for the particular album.
If there is anyone who would be successful in experimenting subscription versus ad-supported models, it is definitely Google. YouTube will not be the first platform to enter the market. They have a strong user base which will be their advantage when they introduce their next service. They need to have something strong on their side to popularize their streaming market. If rumors are to be believed then it looks like Apple will also be entering the market soon with their iRadio concept.
When people approached YouTube, sources neither confirmed nor denied about the possibility of streaming. However, they did say there are a few content creators who think the company would definitely benefit from subscription revenue that is possible with streaming.