It appears as though all the big companies want to have their own music streaming service, and now it looks as though Youtube could be the next to do so.

According to a report from Billboard, YouTube has its own subscription based, Spotify-like music streaming service in the works. It will have both a free entry level subscription and a paid tier that will apparently be similar to Google's All Access music service.

The subscription music service seems to be a bit of an odd prospect considering that most, if not all the content that will be available is already attainable for free on YouTube. Billboard reports that several individuals briefed on the proposed new service say the free tier will likely feature unlimited, on-demand access across all platforms including mobile.

The sources also suggest that the paid subscription is "more of a soft sell," with YouTube's main goal being to continue bringing in more viewers in order to raise ad revenue. While much of this content is already available for free, the premium subscription could include things like full album streaming, offline listening, and most obviously, an ad-free experience.

Google made the following statement on the report:

"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."

Billboard also claims that while the timing of when the service will launch is still undetermined, YouTube is "hoping to release a product this year." It goes on to point out that YouTube, through its parent company Google, has already secured many of the licenses it would require to launch a service of this kind, including those with Warner Music Group, Sony Music Entertainment and Universal Music Group.

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