Google hasn't even yet made it official that it is going to launch a new music streaming program, but the music industry is very happy about it. An industry insider says that once it's set up it could get millions of people to become paying music subscribers. As of now digital revenues made up 9% of the music industry's revenue, or $5.6 billion. Google has millions of users through its search engine, and YouTube has 800 million users, so the possibilities if Google streams could be a lot of additional users. As of now streaming is 10% of the revenue from the music industry.
Google hasn't leaked any details about the steaming music, but you can assume that it will be similar to Spotify, or Deezer. However, Google is in talks with the major record labels, and experts predict that it could be released as early as the third quarter of this year.
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