YouTube & Google Partnering for Music Subscription Service

Earlier this week Fortune broke the story that YouTube and Google would soon be partnering on a new music subscription service, set to take on leaders Muve Music and Spotify as well as the rumored Apple iTunes subscription service currently being developed. Muve Music is the most popular service with 1.4 million subscribers charging just $5 a month (Spotify is a close second with just over a million subscribers). It’s a smart move for the future as YouTube (& Soundcloud) have become a go-to destination for music fans (especially LMB) when a band debuts a new video or song. Record companies have also taken to the idea with Fortune naming Warner Brothers as a potential partner in the deal. We’ll have more as it develops.