YouTube is working on a 'channel store' for subscriptions to popular streaming services
According to The Wall Street Journal, YouTube has been working on an online store that allows you to purchase subscriptions for various streaming services. According to sources, the Google-owned video streaming service has been developing a "channel store" for around 18 months and is currently in negotiations with prospective partner firms. Currently, HBO Max is available as an add-on subscription option for $65 per month for YouTube TV subscribers. A la carte streaming services will reportedly be accessible through the main YouTube app's upcoming online shop.
According to a recent report, YouTube is promoting its platform as a fantastic method for enterprises to market their streaming services since consumers can watch trailers for free on the site or app and then quickly pay for a subscription. For purchases conducted through the video platform, partner firms are expected to give revenue back to YouTube. YouTube is presently discussing how to split subscription earnings with them, although the terms differ per partner.
Despite the fact that it would mean sharing revenue with partners, more streaming services are now prepared to combine or collaborate. According to The Journal, Starz CEO Jeffrey Hirsch believes combining streaming services with other companies creates a better experience for customers. It also draws more people's attention and lowers consumers' propensity to cancel their subscriptions.
In the case of YouTube, which is already quite popular, the software may give premium customers a single location to manage their many subscriptions. Making services more readily and simply accessible could help streaming providers survive what analysts anticipate will be a tough year with numerous subscriber losses.
It's possible that the "YouTube channel store" will be released this fall, according to reports. However, it has yet to confirm that the project exists or that it is already in negotiations with potential partners.