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YouTube signs second global multi-year agreement with Universal Music

YouTube is one more time in the limelight as it signs second global, multi-year agreement with Universal Music.

YouTube has signed a Universal Music deal amid expanding its subscription plans.

The major music label said that the deal would provide its artists more flexibility and pay, and strengthen YouTube’s commitment to managing music rights.

Universal Music represents artists including Taylor Swift and Jay-Z.

Notably, YouTube has also signed a deal back in May with Warner Music Group.

As per the reports available in the media, the negotiations come in advance of YouTube’s launch of a new paid music service that is expected to go live in March 2018.

There is no statement have been recorded yet by YouTube. This deal is supposed to turn on the heat of the competition in the music streaming business, where firms such as Spotify, Apple and Amazon are already active.

Alphabet, which owns both YouTube and Google has previously said that they are investing in the site, paying more to acquire content, and making the expansion of YouTube’s subscription business a priority. The company already offers paid YouTube television subscriptions and has experimented earlier with music plans.

Susan Wojcicki, CEO of YouTube  asserted, “We’re thrilled to strengthen our partnership with Universal Music Group. This agreement means we can drive more value to the industry, break and support more artists and deliver an incredible music experience to fans around the world.”