Google YouTube plans to launch an online store for streaming video services, which has been planned for at least 18 months

CTOnews.com, Aug. 13 (Xinhua)-- YouTube, a unit of Alphabet, is planning to launch an online store for streaming video services, Reuters reported, citing the Wall Street Journal.

YouTube has renegotiated negotiations with entertainment companies to participate in the platform, which is known as the "channel store" at YouTube, according to people familiar with the matter. In addition, the platform has been in preparation for at least 18 months and could be launched as early as this autumn.

CTOnews.com learned that Alphabet did not immediately respond to a request for comment.

As more and more consumers move away from cable or satellite TV and switch to subscription-based streaming services, the launch of the plan will enable YouTube to join companies such as Roku and Apple to grab a piece of the streaming market.

Earlier this week, the New York Times reported that Wal-Mart had held talks with media companies to include streaming entertainment in its membership services.