YouTube plans to launch an online store for streaming video services, through which users can directly subscribe to partner streaming video platforms.
The video hosting management is already negotiating with copyright holders to participate in the project, reports The Wall Street Journal, citing sources. The so-called “channel store” could be launched as early as autumn.
The video hosting wants to combine various streaming services within its platform and implement a subscription selection function within it, while both YouTube and the streaming service will receive revenue, and the conditions will vary depending on the partner.
In early 2020, YouTube had already proposed the idea of building an online store for streaming video services. Today, with the increasingly fierce competition among streaming media platforms, this idea has gained the support and favour of many platforms.
Today, the establishment of streaming media video platforms has become the general trend — other companies are developing similar platforms — including Amazon, Apple and Walmart. Netflix and other streaming services have also partnered with Verizon’s service.
But with the increase in the number of platforms, the growth rate of users on each platform has gradually slowed down, and in order to attract more subscribers, these tech giants have taken a new step — seeking cooperation with companies.
Jeffrey Hirsch, chief executive of Starz, a premium cable channel in the United States, said streaming services are bundled with other products to make subscriptions easier and faster, and for users, “simple is best.”
In response to this trend, YouTube’s “channel store” will be specially created for streaming media platforms that can not only focus on publicity but also realize quick subscriptions. The large and diverse audience is YouTube’s biggest selling point. YouTube has more than 2 billion monthly logged-in users.
At first, it will be available only in the United States, but in the future, the store will open in other countries. The platform is currently in talks with streaming services such as Amazon Prime Video, Roku and Apple TV, among others. In addition, YouTube TV subscribers can already subscribe to the HBO Max channel bundle for $64.99.