Google streaming music service?

[steve2470]

http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-google-streaming-music-service-20130222,0,1955138.story

Google Inc. is in discussions with the major labels about launching an online music streaming service that would position it to compete with Spotify, MOG and others, a person familiar with the matter confirmed.

The labels are in discussions with Google about renewing deals that pay the music companies a fee whenever one of their copyrighted songs is used in a YouTube video, said the person who was not authorized to speak publicly about the negotiations.

As part of these talks, Google is proposing a premium subscription service -- perhaps as soon as the fall of this year. The contemplated new offering was first reported by the Financial Times. A Google spokesman declined comment.

Google Inc.'s YouTube has emerged as a primary destination for young music fans, who come to the site to watch music videos and countless parodies. A popular YouTube video can catapult a song to the top of the music charts, as was the case with the "Harlem Shake," which this propelled little-known Brooklyn DJ Baauer's dance track to the No. 1 spot on Billboard's Hot 100.

*end of excerpt*

A bit old news but new to me.

[onehandle]

1. Last year, the WSJ announced that Apple will be doing this. Pandora shares dropped 25%.

If Apple and Google do this, Pandora and Spotify are history.