YouTube Jumps Streaming Video Marketplace Bandwagon, Joining Likes Of Amazon, Apple - Alphabet (NASDAQ:GO

Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) YouTube is planning to launch an online store for streaming video services, the Wall Street Journal reports. YouTube hopes the new platform referred to internally as a "channel store" could be available as early as this fall.

YouTube currently allows subscribers to YouTube TV, its $64.99-a-month online package of cable channels, to add on a subscription to services like HBO Max. The new marketplace would allow consumers to choose streaming services a la carte through the main YouTube app.

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YouTube has explored splitting subscription revenue with streaming partners. It would join the likes of Amazon.com Inc (NASDAQ:AMZN), Roku, Inc (NASDAQ:ROKU), and Apple Inc (NASDAQ:AAPL), which all have their hubs to sell streaming video services.

NBCUniversal's Peacock weighed adding streaming services of potential partners to its app.

Netflix Inc (NASDAQ:NFLX) and other streaming services have agreed to be part of Verizon Communications Inc's (NYSE:VZ) plan which lets customers sign up for and manage their streaming services through the connectivity company's interface.

"They are making their services available in as many places as possible so that they have as big a shot as possible of getting people," Chicken Soup for the Soul Entertainment, Inc (NASDAQ:CSSE) CEO Bill Rouhana said.

Streaming companies like Netflix battled subscriber losses as the world gradually recovered from the pandemic and people started moving out for entertainment. Additionally, the inflation, geopolitical crisis, and uncertain macro tightened consumer spending.

Price Action: GOOG shares traded lower by 0.53% at $122 premarket on the last check Monday.