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YouTube to launch new music streaming app next year

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With music streaming gaining more popularity daily, Google has taken a step to challenge top music streaming apps like Spotify and Google music. Google had made efforts to penetrate that market in 2011 with the launch of Google play music and There was also Music Key in 2014, which came with ad-free music videos and songs for $10 per month; this eventually became YouTube Red in 2015.

Bloomberg states that it'll be named 'Remix' and it'll be a paid service.

Although Warner Music Group, one of the three biggest music publishers, has reportedly already signed on, YouTube is still in talks with Sony Music Entertainment and Universal Music Group, as well as Merlin, a consortium of independent labels, all of which need to get onboard.
Musicians and industry execs have long spoken out against YouTube and complained that the service simply doesn’t pay enough for hosting their videos, especially as so many people use the site solely to listen to music. So this may Benifit artistes more!
The app is scheduled to launch on March 2018, what are your thoughts on this new Google initiative?
Say your thoughts in the comment section. 
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