YouTube planning to launch its own online streaming platform for users

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With the popularity of YouTube and its videos and the various streaming platforms today, the Google-owned company is now working on launching its own online store like Apple TV and Amazon Prime Video. It will let users subscribe to other streaming services, and the platform will be available later this year.

According to a report in Wall Street Journal, the YouTube 'Channel Store' will allow consumers to choose streaming services through the main YouTube app.

The company is already in talks with entertainment companies about participating in the YouTube marketplace.

The YouTube online store "has been in the works for at least 18 months".

YouTube TV already has this capability for HBO, AMC+, Showtime, and many others.

"YouTube is discussing splitting subscription revenue with streaming partners, although the terms may vary widely for each partner," the report mentioned.

The pitch is that the new YouTube channel store would offer great marketing for streaming services because "consumers could watch trailers of shows or movies free on YouTube and then easily pay to subscribe to the service".

YouTube in 2020 for the first time discussed launching an online streaming video store.

Walmart is also planning to add streaming services as a new perk to its membership programme.

Netflix and other streaming services will be part of Verizon's new Plus Play subscription manager.

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