YouTube Announces New Subscription TV Service, YouTube TV

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YouTube has decided to enter the already-jam-packed arena of subscription TV streaming services.

The Google-owned company announced they will launch a live, on-demand streaming television service called YouTube TV some time in the next few months. The service will cost $35 a month for a family plan of up to six accounts, and subscribers will gain access to 40 networks, including ABC, CBS, FOX, NBC, FX, ESPN, Disney Channel and more. YouTube TV will also include original content created by the company itself, and allow users to store digital content.

At a press event, YouTube CEO Susan Wojcicki said the move represented the natural evolution of television. “There’s no question that millennials love great TV content, but what we’ve seen is they don’t want to watch it in the traditional setting,” said Wojcicki. In other words, people like watching television shows, but they don’t want to pay for expensive cable services.

YouTube TV will join the ranks of what are known as “over-the-top” services, which theoretically allow consumers more options at a more affordable price. Of course, competition in this industry is intense, with Sony’s PlayStation Vue, DirecTV Now, Sling TV and Apple TV all vying for consumers’ attention, to say nothing of the massive popularity of Netflix, Hulu, Amazon, HBO GO and others.

One advantage YouTube TV will have is that they already attract a huge and loyal audience. However, their bundle is also missing some key popular networks such as CNN, TBS, HBO and The Food Network. Their family plan does sound pretty sweet, though. It’ll be interesting to see how YouTube TV chooses to distinguish itself from the fray.