YouTube is working on Online Store for Streaming Video Service: Report

YouTube is planning to launch an online store for streaming video services, the Wall Street Journal reported on Friday.

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According to the story, which cited people familiar with the recent discussions, the business has resumed discussions with entertainment companies about joining the platform, which it is referring to internally as a “channel store.”

The report further added, that the platform has been in the works for at least 18 months and could be available as early as this fall.

Also Read: Xiaomi unveils its futuristic self-driving car for the first time.

Alphabet did not immediately respond to a Reuters request for comment.

With more consumers cutting the cord on cable or satellite TV and shifting to subscription-based streaming services, the planned launch will allow YouTube to join companies like Roku and Apple in a bid to gain a portion of the already crowded streaming market.

Earlier this week, the New York Times reported that Walmart has held talks with media companies about including streaming entertainment in its membership service.

Last month, YouTube collaborated with Shopify to allow merchants to sell through the video platform, as the Canadian company looks to tap into the growing number of content creators launching their own e-commerce stores.

The collaboration, which expands on one already in place with Google, would let business owners link their online shops to YouTube, which has over two billion monthly visitors. In an effort to combat a post-pandemic slowdown in online buying, Shopify, a company that creates tools for retailers to set up their online storefronts, unveiled new features in June to assist its clients to sell to other businesses and on Twitter.

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