Google May Offer Subscriber Version Of YouTube This Year

(RTTNews) - Google Inc. (GOOG, GOOGL) has said that it intends to offer a subscriber version of the popular YouTube as soon as this year, which would allow viewers to see videos without ads. The move will put Google into more direct competition with streaming services like Netflix Inc. and Hulu LLC.

Revenue from the new feature, which is likely to start by the end of the year, will be shared with video creators. Such revenue will supplement the company's advertising service revenues.

The internet giant said the plan is to offer "fans an ads-free version of YouTube for a monthly fee. By creating a new paid offering, we'll generate a new source of revenue that will supplement your fast growing advertising revenue."

Google also said that its newly introduced YouTube Kids app crossed two million installations in less than one month.

GOOG closed up 0.9 percent at $541.61 on Wednesday, while GOOGL advanced 0.7 percent to $548.84.