YouTube is working on an online store where you can buy subscriptions for various streaming services, The Wall Street Journal reports. Google’s video streaming platform has reportedly been working on a “channel store” for at least 18 months and is currently in talks with potential partner companies. Currently, YouTube offers subscribers of its $65 per month streaming service TV the option to add access to extra services like HBO Max. But the store, which is said to be available soon, will apparently offer people a way to purchase many different streaming services from the main YouTube app.
The Journal says YouTube makes its platform a great way for companies to market streaming services, as viewers can watch trailers for free on its website or app and then easily pay for a subscription. Partner companies will likely have to share their earnings with YouTube for purchases made on the video platform. The Journal says YouTube is already discussing how it will split subscription revenue, albeit on different terms for each partner.
More streaming services are now open to the idea of bundling or teaming up their services, despite the possibility of having to share the revenue with partners. Starz CEO Jeffrey Hirsch said in a conversation with The Journal that combining streaming services with other names creates a better experience for users. It also puts providers’ offers in front of more people and makes it less likely for subscribers to cancel.
Looking at the YouTube example, the app is already widely used and can provide paying users with a single platform to manage multiple subscriptions. For streaming providers, making their services more easily and simply accessible can help them survive what analysts believe will be a rough year with losing significant numbers of users.
YouTube’s “channel store” is reportedly likely to open in the fall of this year, but the firm has yet to confirm the existence of the project and is already in talks with potential partners.
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