Queen Nwabueze
Video sharing company, YouTube, has concluded plans to launch an online store for video streaming services.
Join our WhatsApp ChannelReportedly, the Google-owned video company has renewed talks with entertainment companies about participating in the platform, which it is referring to internally as a “channel store.”
The platform has been in the works for at least 18 months and will soon be available, reports say.
The planned launch will allow YouTube to join companies like Roku Inc and Apple in a bid to gain a portion of the already crowded streaming market as more consumers are shifting from cable or satellite TV to subscription based streaming services.
Reportedly, if YouTube were to get a marketplace for streaming services, it would make it easier for subscribers to purchase multiple services through a single app. While YouTube TV already offers its subscribers a way to add services like HBO Max to their streaming package, the new channel store would allow consumers to subscribe to separate streaming services through the main YouTube app.
This translates that instead of spending tons of money on original content (remember YouTube Originals?), the tech company can provide access to other streaming services and still generate revenue. YouTube would act as a middleman between streamer and subscriber, taking a percentage of the subscription fee.
Plus, with around 2 billion viewers a month, a YouTube channel store would be an enticing partner for streaming services that want to reach more subscribers via the popular entertainment app.
YouTube is an American online video sharing and social media platform headquartered in San Bruno, California. It was launched on February 14, 2005, by Steve Chen, Chad Hurley, and Jawed Karim. It is currently owned by Google, and is the second most visited website, after Google Search.
