YouTube plans to launch a video streaming service

© Reuters. FILE PHOTO: YouTube logo at YouTube Space LA in Playa Del Rey, Los Angeles, California, U.S. October 21, 2015.

(Reuters) – Alphabet’s YouTube (NASDAQ:) Inc is planning to open an online storefront for online video services, the Wall Street Journal reported on Friday.

The company has renewed talks with entertainment companies about joining the platform, which it is referring to internally as a “channel store,” the report said, citing people close to the matter. recent discussions.

The platform has been active for at least 18 months and could launch as early as this fall, the report added.

Alphabet did not immediately respond to Reuters’ request for comment.

With more and more consumers cutting their cable or satellite TV cords and turning to subscription-based streaming services, the planned launch will allow YouTube to join companies like Roku (NASDAQ:) Inc and Apple (NASDAQ:) in an attempt to capture a piece of the already crowded streaming market.

Earlier this week, the New York Times reported that Walmart (NYSE: Inc) has held talks with media companies about including online entertainment in its membership service.

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