- YouTube could possibly launch an online TV service by 2017
- The new paid online subscription service will be called Unplugged
- YouTube previously launched its first paid subscription site called Red in 2015
A report revealed that online video-streaming website YouTube could possibly launch an online TV service as early as 2017.
Bloomberg revealed that YouTube is currently working on a paid online subscription service called Unplugged which would provide consumers with online streaming of bundled cable TV programs.
Executives at YouTube have already been in private talks with big media companies such as NBC Universal, Viacom Inc., Twenty-First Century Fox Inc. and CBS Corporation, but is yet to secure any broadcasting rights.
Currently, the website, as a unit of the main Google Internet business being managed by Alphabet Inc., runs the largest ad-supported video site in the world.
The company has reportedly p begun overhauling its technical infrastructure to pave way for a web TV service as early as 2012, as a complement to the current ad-supported site.
In the fall of 2015, YouTube began its very first paid subscription service called Red in order to generate more non-advertising revenue.
With the introduction of Unplugged in the future, the company expect to draw in much more viewers online and through mobile apps, and thus increasing revenue.
The new service is expected to compete with Dish Network Corporation and Sony Corporation, which both have their own online TV services in place, as well as Apple Inc. and Amazon.com Inc., which are also attempting a foray in the same technology.
According to insiders, YouTube executives Christian Oestlien and Jonathan Zepp are currently overseeing the Unplugged project.
Although YouTube is yet to release an official confirmation about such plans, parent company Google has previously indicated to its shareholders further expansion of the website.
“We aim to provide more choice to YouTube fans — more ways for them to engage with creators and each other, and more ways for them to get great content. We’ve started down this journey with specialized apps like YouTube Kids, as well as through our YouTube Red subscription service,” wrote Google chief executive officer, Sundar Pichai to shareholders of Alphabet, Inc.