YouTube renewed talks with entertainment players about participating in the new?video streaming marketplace
YouTube is looking into streaming service opportunities to attract subscribers and stay competitive. Source: pexels.com
According to the Wall Street Journal, YouTube plans to launch an online store for streaming video services. The company renewed talks with entertainment players about participating in the new platform. Labelled as a “channel store”, the project has been in the works for at least 18 months. Thus, it could launch as early as this fall.
YouTube already allows YouTube TV subscribers to add on a subscription to selected services such as HBO Max. However, the new marketplace would allow consumers to choose streaming services through the main YouTube app.
Many tech giants such as Amazon, Roku and Apple all have their own apps to sell streaming video services. At the same time, purchasing multiple services through a single app would be much easier for consumers. Besides, consumers could watch movie trailers free on YouTube and then easily pay to subscribe to the service.
Moreover, the potential marketplace has its benefits for the streaming businesses involved too. Namely, YouTube is discussing splitting subscription revenue with streaming partners.
Moreover, the YouTube store would offer another avenue to get in front of potential customers for smaller streaming services. Currently, many companies are exploring a variety of new marketing and distribution strategies to boost sign-ups.
Although partnering with other companies means having less potential revenue and less control over customers’ data, streaming services are cooperating to create better consumer experiences. Simplicity and flexibility decrease the chances of cancelled subscriptions.
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Nina Bobro
Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.
