Google (GOOG) May Debut New Subscription Music Service Soon (P) (AAPL)
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Google (Nasdaq: GOOG) might launch a subscription music service soon.
According to TheVerge, many expect an unveiling at Google I/O Conference tomorrow. The company has already signed up Sony Music and Universal Music Group, sources said.
A separate subscription might be needed for YouTube and Google Play.
The subscription music service would resemble Spotify, offering on-demand content which is able to be steamed to PCs and mobile devices. Still, it would create yet another challenger for Pandora Media (NYSE: P) as Apple (Nasdaq: AAPL) could also be mulling the launch of a similar music service sometime soon.
Google's negotiating power doesn't come from Google Play, which is relatively new, but its YouTube service. Music videos are some of the most popular offerings among YouTube's 800 million monthly visitors.
Shares of Google are up in late trading, while Pandora is lower.
According to TheVerge, many expect an unveiling at Google I/O Conference tomorrow. The company has already signed up Sony Music and Universal Music Group, sources said.
A separate subscription might be needed for YouTube and Google Play.
The subscription music service would resemble Spotify, offering on-demand content which is able to be steamed to PCs and mobile devices. Still, it would create yet another challenger for Pandora Media (NYSE: P) as Apple (Nasdaq: AAPL) could also be mulling the launch of a similar music service sometime soon.
Google's negotiating power doesn't come from Google Play, which is relatively new, but its YouTube service. Music videos are some of the most popular offerings among YouTube's 800 million monthly visitors.
Shares of Google are up in late trading, while Pandora is lower.
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