There have been rumors of YouTube’s paid subscription service in the media for some time now, but it seems like it is coming sooner than later. The Verge is reporting that the company is already notifying video content creators that they will be launching a subscription service for about $10 a month and will be ad-free.
Now, the new service will let creators place their videos behind a paywall, so only people that pay for the service will be allowed to view it. There is speculation that there will be a lower-priced subscriptions for specific programs, like music and children’s programming.
If you have a big YouTube channel and following will find this a new way to make money. As Google is offering channels a portion of the revenue. Google will take 45 percent of the revenue while the channel itself will receive 55 percent of the total revenue.
Individual partners will get an apportioned based on how much time their viewers spend time watching their channels. The site is reporting that creators will be required to participate in the subscription offering, or every video they upload will be set to private.
“While we can’t comment on ongoing discussions, giving fans more choice to enjoy the content they love and creators more opportunity to earn revenue are always amongst our top priorities,” a YouTube spokeswoman told in an email.
The subscription-based service of YouTube is something that will most likely tank. Many people have grown used to sitting through ads, even on services like Hulu that runs add with paid subscription services. They will learn that Google’s grand scheme to increase revenue for the service will fail because people will most likely run to another site to watch that cat video.