YouTube to launch paid music service

Google Inc.'s YouTube said on Tuesday it plans to launch a paid streaming music service, amid criticism that its existing, free video website might block the music videos of labels that do not agree to its terms.

"We’re adding subscription-based features for music on YouTube with this in mind - to bring our music partners new revenue streams in addition to the hundreds of millions of dollars YouTube already generates for them each year," YouTube said in a statement.

According to Fox Business, YouTube has signed deals for the paid service with 95 percent of music labels it previously had deals with its via its existing, ad-supported website.

The service is expected to go live at the end of the summer and would allow users to listen without ads.

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