Google combined both the YouTube Music and Google Play Music teams in February, and Google CEO Sundar Pichai had told investors earlier this year that the company planned to unite its music experiences under one roof.
Paid services from Spotify and Apple Music have spurred a recovery in the music business, which is growing again after nearly two decades of decline. Only Warner has already signed on for the service, according to the report.
There are still a few months left for YouTube to make things happen and it will certainly be interesting to see how things develop. According to Bloomberg Remix will feature on demand music similar to Spotify and also include video clips.
Google's worldwide music boss Lyor Cohen has previously spoken of the possibilities of bringing together Google Play Music's paid service with elements of YouTube. Currently, YouTube has secured Warner Music Group, but is looking to also Sony Music Entertainment and Universal Music Group onboard. As well, it is believed YouTube has reached out to artists for help with promotion. At the moment YouTube is reportedly also in talks with a number of artists.
The one major advantage YouTube could have over its rivals is a huge catalog of video content to complement its music library.
At the time, the company was planning to launch the new service later this year.