WSJ: YouTube plans to launch streaming video service

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WSJ: YouTube plans to launch streaming video service

The Wall Street Journal reported on Friday stating that YouTube, a subsidiary of Alphabet Inc. plans to launch an online store for streaming video services.

According to WSJ, the company has begun discussions with entertainment companies about joining the platform, which it informally refers to as a “channel store.”

According to the report, the platform has been under development for at least 18 months and could debut this fall.

The future launch would enable YouTube to join companies like Roku and Apple in an effort to get a share of the already crowded streaming industry 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 had discussions with media groups about including streaming entertainment into its membership service.