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YouTube works on an online store for its Streaming Video Services: Report

YouTube, Alphabet’s video streaming platform, has reportedly been planning to launch an online store for streaming video services.

The report came from the Wall Street Journal on Friday. It further mentioned that YouTube has renewed talks with entertainment companies about participating in the platform, which the platform is referring to internally as a “channel store”, citing the discussions.

It is believed that the video streaming platform has been working on its new platform for the last 18 months and could be available as early as possible, added the report.

Recently, The New York Times reported that Walmart is in talks with major media companies about including streaming entertainment in its membership service.

In July 2022, the video streaming platform collaborated with Shopify and allowed merchants to sell through the video platform, as the Canadian company aims to grow the number of content creators launching their own e-commerce stores. The partnership which already has Google in it as a partner, would allow merchants to integrate their online stores with YouTube. It is expected to reach over two billion monthly users. Shopify, a platform which makes tools for merchants to set up their online stores, launched new features in June to help its clients sell to other businesses and on Twitter in a bid to counter a post-pandemic slowdown in online shopping.

Meanwhile, it was reported in a new survey from Pew Research Center that the number of teenagers who say they are chronically online has nearly doubled since 2015, and YouTube is the most popular platform among US teens, with 95 per cent of the coveted demographic saying they use the site or its mobile app, the survey found. ByteDance Ltd.’s video-sharing platform TikTok, which was launched in the US in 2018 and thus did not exist the last time Pew performed a similar survey, is now used by about 67 per cent of those between 13 and 17 years old.

Almost half of US teens reported that they are online “almost constantly,” a jump from the 24 per cent who reported similar behavior to Pew in 2015. Most large social-media companies, including Meta and YouTube parent Alphabet Inc., have been pouring resources into short-form video features on their own platforms.

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