YouTube is moving along with plans to launch a marketplace that will allow users to subscribe to video streaming services, The Wall Street Journal reported.
The service, which has been discussed since at least 2020 and is referred to by YouTube as a “channel store”, is expected to be launched this autumn, the Journal was told by its sources.
YouTube, which is owned by Google parent Alphabet, has “renewed talks with entertainment companies about participating in the platform”, the Journal wrote.
“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.”
Video streaming, which transformed how content was distributed, grew significantly during the Covid-19 pandemic as people turned to entertainment on their devices.
The global video streaming market was valued at more than $372 billion in 2021 and is expected to grow to about $473.4bn this year and hit almost $1.7 trillion by 2029 at a compound annual rate of 20 per cent, according to Fortune Business Insights.
If YouTube's plans push through, it will be in direct competition with Netflix, Amazon, Apple and Disney, industry majors that have established services and user bases. Combined, these companies have more than 600 million subscribers globally, according to company data and analyst estimates.
However, a streaming service from YouTube has the potential to rival or even surpass those companies given its sheer reach: the platform has about 2.6 billion users globally, according to Statista.
YouTube's planned service will initially be available in the US, the report said, but would presumably be introduced globally. There are no indications of a timeline nor phases for this.
The company is also discussing splitting subscription revenue with its potential streaming partners, “although the terms may vary widely for each partner”, it said.
More from Neighbourhood Watch:
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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PROFILE BOX:
Company/date started: 2015
Founder/CEO: Rami Salman, Rishav Jalan, Ayush Chordia
Based: Dubai, UAE
Sector: Technology, Sales, Voice, Artificial Intelligence
Size: (employees/revenue) 10/ 100,000 downloads
Stage: 1 ($800,000)
Investors: Eight first-round investors including, Beco Capital, 500 Startups, Dubai Silicon Oasis, Hala Fadel, Odin Financial Services, Dubai Angel Investors, Womena, Arzan VC
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
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How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
