The company, which has been wanting to bring more users to the live broadcast service for a while, has started working on the new subscription service. According to the news in the Wall Street Journal, YouTube will soon offer its subscription service called Channel Store to users. The subscription system, which has been on the agenda since 2020, is finally coming.
A new competitor is coming to Netflix: YouTube Channel Store
Alphabet, the parent company of Google, announced that it has started negotiations with companies providing services in the entertainment industry about joining the platform. Officials who made a statement on the subject said, “YouTube’s new service, Channel Store, will offer a great marketing opportunity for streaming services. Because viewers will easily start their paid subscription after watching live streams or movie trailers for free on YouTube.” said.
With the pandemic period, the entertainment industry, especially content producers, has developed rapidly. The video streaming market, which was valued at $371 billion in 2021, has grown to nearly $473.4 billion this year.
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The subscription service, which is expected to launch in the third quarter of 2022, will directly rival companies such as Netflix, Amazon and Apple. Analysts estimate that video streaming services have more than 600 million subscribers in total.
However, it is stated that the service that YouTube will offer has the potential to rival or even surpass other companies. According to Statista, the platform has about 2.6 billion users worldwide.
It is stated that YouTube’s planned service will initially be available in the US, but will be promoted globally. It is not yet known when the video streaming service will become available worldwide.
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