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YouTube launches paid subscription service.

YouTube has launched a pilot program to start offering paid subscription services, starting at $0.99/month. The program is launched initially in 10 countries, with 30 partners and 50 channels. The channels reflect a variety for different audience--from Ultimate Fighting Championship to PGA Digital Golf to Comedy TV to several options for kids including Sesame Street, National Geography for Kids, Baby TV and others. Users will pay via Google Wallet and will be able to access their subscriptions via computers, smartphones, tablets, apps and internet enabled TVs.

YouTube's move is seen as a smart attempt to benefit from its huge user base. More than one billion unique users visit YouTube every month; over six billion hours of videos are watched each month on the site and 100 hours of video are uploaded every minute. YouTube is localized in 56 countries and across 61 languages. According to research firm Nielsen, YouTube reaches more US adults aged 18-34 than any cable network. All this makes YouTube's entry into the subscription market an exciting one with potentially huge implications for Amazon and Nefflix and the way we view TV (despite YouTube saying it's not television).
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Title Annotation:International News
Publication:Economic Review
Article Type:Brief article
Date:Jun 1, 2013
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