YouTube is developing its own music streaming service, in a similar format to Spotify, which will be launched later this year, according to a report from Fortune. Sources from YouTube-owner Google have said the music service would have its own negotiating team and operating unit, but would also "have some overlap with new features also rumoured to be coming to Google's Android music platform, Google Play".

London startup blog the Kernel is to close after its parent company Sentinel Media could not satisfy bailiffs' demands for payment of GBP16,853, just days after its sole director Milo Yiannopoulos insisted to MediaGuardian that "the company remains in good health". Yiannopoulos emailed former contributors, who had not been paid, on Monday afternoon admitting that "as of this week, Sentinel Media is no longer able to pay its debts". The company will either be wound up - which would lead to a court-appointed administrator who would examine its accounts - or simply cease trading.

Swiss luxury watch manufacturer Patek Philippe is sponsoring British Airways' (BA) newly-launched iPad edition of its in-flight magazine First Life. First Life is published bi-monthly and available to first class travellers in print on BA flights. It currently reaches approximately 44,000 travellers. The iPad version of First Life will be available to download for free on iPad and features a range of interactive elements, including an interactive map highlighting cities around the world.

The news-kiosk app has formed a partnership with ASUS which sees its newsstand for digital magazines promoted on the hardware manufacturer's new content platform, ASUS@vibe+. ASUS tablet users will have access to over 800 English, French and Italian-language titles via lekiosk's signature user interface which will be hosted within the entertainment and content service ASUS provides to its tablet users.

Writing her ten commandments for the content world, blogger Barb Schmitz outlined the shunning of product pitching as her number one taboo. Calling it "rule number one of content marketing", Schmitz told business2community.com how brands should not use their platform to sell goods but instead engage the audience and create a thriving, positive community. Preceding it with product endorsement, she said, would damage a brand and reputation whilst cheapening the content.

FremantleMedia has announced the promotion of Keith Hindle from CEO of the American Enterprises branch of the company to the newly created role of CEO of digital and branded entertainment. Based in New York, Hindle will hold functional responsibility for all digital, sponsorship, social media and YouTube activity, including the company's original content channels, along with apps, second-screen extensions and online gaming.

Guardian US has launched its first advertising campaign, "VoiceYourView", to promote its American digital operation. Outdoor ads will appear in targeted locations in New York, Chicago, Los Angeles and San Francisco. Each poster's Noma Bar illustration represents one side of an issue - internet privacy, the use of condoms in the adult film industry, gun control, women in the military - which when flipped showcases the opposing view.

The COO, who kept all of Nick Denton's trains running and his employees out of (severe) legal trouble for the last decade-plus, is going to do something new. Here's her official take on the matter, delivered via email: "I had a great run with Nick at Gawker, but I want to do some other projects. Given that the company has matured into a well-oiled machine, it was the right time for me to move on, and change is a good thing for everyone."

Farfetch is home to a range of luxury brands from more than 250 men and women fashion boutiques. The Farfetch website currently has 4.3 million visits per month. The company has $129 million annual sales with a current growth rate of more than 145%. With offices in London, Portugal, Los Angeles and Brazil, Farfetch currently has 150,000 customers and operates in more than 140 countries. Sixty-five percent of its sales come from markets outside the UK and US.

The supermarket giant has poached senior executives from other firms to lead Blinkboxmusic and Blinkboxbooks, which will both launch later this year. It first acquired movies and TV streaming service Blinkbox in 2011, and then purchased WE7 and eBook business Mobcast last year. Tesco now intends to consolidate these businesses as separate entities but united under the Blinkbox brand, creating the new home of digital entertainment for Tesco customers.