YouTube has resumed discussions with entertainment companies about joining the platform and is now internally referring to its planned online store as “channel store.” With the anticipated launch, YouTube will be able to compete with businesses like Roku Inc. and Apple for a piece of the already crowded streaming market.
The Wall Street Journal published a report on Friday stating that YouTube, a subsidiary of Alphabet Inc., intends to open an online store for streaming video services. The report said, citing people familiar with the recent discussions, that the company has resumed discussions with entertainment companies about taking part in the platform, which it is referring to internally as a “channel store.”
According to the WSJ report, the platform has been in development for at least 18 months and could launch this fall.
A request for comment from Reuters was not immediately answered by Alphabet.
The upcoming launch will enable YouTube to join businesses like Roku Inc. and Apple in an effort to gain a piece of the already crowded streaming market as more consumers cut the cord on cable or satellite TV and switch to subscription-based streaming services.
The New York Times reported earlier this week that Walmart Inc. had discussions with media companies about incorporating streaming entertainment into its membership service.