Google, which celebrated its 10th anniversary since going public on Tuesday, has purchased the domain name "YouTubeMusicKey.com". The technology giant is also said to be renaming its existing streaming service from Google Play Music All Access to Google Play Music Key.
Read MoreWhy Google's streaming music service could win
Subscribers to YouTube Music Key will also be able to tap Google Play Music Key. Android Police's report suggests users will also be able to access concert footage, covers and remixes, as well as discographies of artists.
The music streaming space is a highly crowded market with Spotify boasting over 10 million subscribers, while Pandora has 76.4 million active monthly unique visitors. But analysts said Google could take advantage of its Android mobile operating system to make YouTube Music Key the default player on its many devices.
Read MoreIs Spotify cannibalizing the music industry?
"Google has an advantage compared to other players since it will have the music service on Android devices, and for many users it will be the default option they will be presented with when they buy a device," Richard Broughton, head of broadband media at IHS, told CNBC in a phone interview.
Music streaming services have come under heavy fire from artists who claim they are not paid their fair share of royalties. Radiohead frontman Thom Yorke slammed Spotify as "the last desperate fart of a dying corpse" last year.
YouTube has also faced criticism from independent music labels, after the video service changed the terms of its site. Indie labels refused to agree to the conditions of the new contract and YouTube threatened to block videos from popular bands such as Adele and the Arctic Monkeys.
Click here to read the full article on Android Police
- By CNBC's Arjun Kharpal