YouTube is reportedly exploring options with regards to a streaming video service that would compete directly with entities like Netflix or Hulu.
YouTube wants to make itself a bigger player in the video streaming service than it currently is. While that might seem like a difficult task considering the fact that it is the single largest streamer of music videos already, and racks up millions of views each day – the Google-owned company is exploring the notion of building a streaming service which will bring original content to YouTube and allow users to see a larger variety of content on the site as well.
A subscription-based video-on-demand service, or SVOD service would be something that users can really grasp onto in the coming years as companies like Netflix pounce on massive earnings from users who want to find viable options away from the cable industry. One of the potential partners of a Google-owned content production company said in a statement that YouTube is “exploring the prospect of launching its subscription VOD service.”
The system would likely be set up the same way that the company currently has their subscription music service set up, charging users $7.99 a month to have access to nearly 30 million songs, and countless videos and even exclusives. Perhaps though that would be the most challenging aspect for YouTube to nail properly. Every video on demand and streaming service that incorporates video has to do so with relative caution and has to execute the same type of caution as the cable companies and networks do in deciding what content to put on their platform.
There is a business side of original content that score well with online users and those who are looking to cut the cord from cable and move to alternative sources of video content. However, YouTube isn’t just working on this particular method of driving further into the video future. In fact, YouTube recently made news for exploring and pushing an on-demand model that would allow users to have access to greater content, and more original content. Again, all of this is contributing to the same overall product in the description. YouTube wants to add more content, and wants to give their users more options – and more reason to stay within their own network instead of leaving the Google network to go to another provider like Netflix or Hulu.