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(Pocket-lint) - Google-owned YouTube is reportedly set to take on the music-streaming world with a new service set to launch later this year, according to Fortune. The latest rumour comes after a report last month which claimed a similar music-streaming feature out of the company. 

Google will reportedly use a YouTube streaming service to allow anyone to listen to tracks for free and at the same time be presented with ads - similar to how the video site works now. There will also be a subscription service that will add more features, perhaps ad-free access like Spotify, Pandora, and RDIO offer. Exact details are still unclear.

Some might question where Google's already- existing Play Music may fit in the equation. According to Fortune, it will continue to be pitched as a digital locker to buy and store music, while the YouTube service will be for streaming individual songs.

Google is reportedly in talks with major record labels to get the streaming service under way. A statement provided by YouTube to Fortune adds to that rumour quite nicely. "While we don't comment on rumour or speculation, there are some content creators that think they would benefit from a subscription revenue stream in addition to ads, so we're looking at that," YouTube said. 

Given how many people already use YouTube for music, it might make sense for Google to roll the music aspect into one, full-blown feature. It's not clear if a separate app would be offered on desktop and mobile, or if this is something that would simply be offered on the web. Many record labels and YouTube already have agreements to offer ads on music videos - this could be taking it one step farther. 

Competitor Apple has been rumoured for months to launch a subscription-based music service this year. It still sounds like both Apple and Google have more agreements to churn out with record labels before anything comes to market, but you bet we'll keep our eyes peeled for the latest.

What do you think of a YouTube streaming service?

Writing by Jake Smith. Originally published on 16 April 2013.