Back in 2015, YouTube had this subscription service called “YouTube Red.” It is similar to the current YouTube Premium, but YouTube Red subscribers also have access to exclusive content known as “YouTube Originals.” It seems the video-sharing site giant is going back to that route.
The Star reported that Wall Street Journal says YouTube has been working on opening an online store for streaming video services for at least 18 months, and it might go live as early as this fall.
The company has resumed discussions with entertainment companies about joining the platform, which it still refers to as a “channel store” internally.
According to Cloudwards, by 2030, it is anticipated that the streaming market would be worth USD330 billion and there are more than 200 streaming services around the world, with Netflix taking the top spot. The pandemic also accelerated the growth of the streaming market.
It seems YouTube is trying to take a piece of the pie, and they already have a very well-established audience around the world. Offering a streaming service should be of no issue to the company, but the most important questions are, how much and what content will they be offering?
