YouTube rumoured to be making on-demand streaming service

Spotify be warned, YouTube is coming for you

YouTube is rumoured to be readying a music and video streaming service to rival Spotify. And it'll launch this year, so we've not long to wait to see how it fares.

Get ready for a new streaming service that's about to enter the fold. Google-owned YouTube is said to be working on a music and video streaming service that'll give the likes of Spotify a run for its money.

Music website Billboard reports it'll be a "premium" service, suggesting you'll have to cough up cash money for full access.

But there will be a free option, too. Apparently the service has been designed with mobile listening in mind, and its catalogue will be similar to that already offered on Google's All Access music subscription service.

YouTube wouldn't be drawn on its plans. It said in a statement: "We're always working on new and better ways for people to enjoy YouTube content across all screens, and on giving partners more opportunities to reach their fans.

"However, we have nothing to announce at this time."

In order to convince people to pay, YouTube could offer full albums - some tracks are restricted on YouTube at the moment, at least officially - as well as offline cacheing.

The service is thought to launch this year, ahead of Beats Music, which could be delayed until early 2014. It'll also be up against Apple's iTunes Radio.

YouTube's premium offeringcould also do away with adverts.

Source: Billboard