In a bid to lure more subscribers to its platform, video-sharing website, YouTube, has launched a new $10 a month subscription plan that would eliminate advertisements, known as ‘You Tube Red’.
This new service will let subscribers save videos to watch later on their computers or smartphones, even without internet access.
The service which will be launched on October 28, was unveiled at YouTube’s studio space, late Wednesday, in Los Angeles, and it includes exclusive access to new videos launching next year as well as the YouTube Music Key service.
After the event YouTube’s chief business Officer, Robert Kyncl, said: “It’s a major, major evolution of our platform.”
YouTube ‘Red’ is intended to turn the enormously popular Google-owned company into a profit maker.
Which is why the company’s vice president of product management, said: “By no means would we expect to jump to tens or hundreds of millions of paying users overnight,” but there should be “strong demand” from the start.”
YouTube, created in February 2005, was bought by Google for $1.65 billion in November 2006, and now operates as one of Google’s subsidiaries.
It is presently the world’s third most visited site, after parent company, Google, and Facebook.