YouTube may be launching a paid subscription service for specialist channels, according to a report. The move by the Google-owned brand could be announced as soon as this week.
The Financial Times first reproted on the plan, which will be available a la carte, allowing users to pick and choose which channel they want to get. It could be as little as $1.99 a month for one of at least 50 specialist channels. The new revenue stream would provide the funds to create more exclusive content for the content producers.
A YouTube spokesperson sent out a statement to Mashable and the Financial Times, noting that they “have nothing to announce at this time.” However, the statement added, “...We're looking into creating a subscription platform that could bring even more great content to YouTube for our users to enjoy and provide our creators with another vehicle to generate revenue from their content, beyond the rental and ad-supported models we offer.”
A January report from AdAge that YouTube was looking to create a subscription service using premium channels. At the time, AdAge reported that YouTube had asked a few channels to apply to become paid channels.
YouTube’s current revenue stream is advertising. The Financial Times reports that the site’s ad revenue is expected to rise to $2 billion this year.
The news follows YouTube’s NewFront presentation last week, in which it decided not to show off any new exclusive content. Instead, the company said that it no longer feels the need to compete with television because it already won the fight. Google Executive Chairman Eric Schmidt said that users are watching over 6 billion hours of video a month on the site.