Google's YouTube plans to launch streaming video store

The Wall Street Journal reported on Friday that Alphabet Inc's YouTube is planning to launch an online store for streaming video services.

The company has renewed talks with entertainment companies about participating in the platform, which it referred to internally as a channel store, citing people close to the discussions.

The report said that the platform could be available as early as this fall and was in the works for at least 18 months.

With more consumers cutting out of cable or satellite TV and moving to subscription-based streaming services, a planned launch will allow YouTube to join companies like Apple and Roku in a bid to gain a portion of the already crowded streaming market.

The New York Times reported this week that Walmart Inc has been talking with media companies about including streaming entertainment in its membership service.