Sources familiar with the matter have told FT that the Google owned service could provide somewhere around 50 channels for as little as $1.99 a month which would provide Google with a new revenue stream and in turn provide content developers with a new method to monetize their content.

Google hasn’t revealed anything about its subscription service saying that it had “nothing to announce.” The search engine giant however had said earlier that it was “looking into creating a subscription platform that could bring even more great content to YouTube for our users to enjoy and provide our creators with another vehicle to generate revenue from their content, beyond the rental and ad-supported models we offer.”

There were reports in January this year that YouTube approached quite a few content developers for its subscription based service. The reports also claimed that beyond the subscription service YouTube was also planning to charge for live events, financial advice shows, self-help videos, etc.

Few days after that report, code within Android pointed to the fact that YouTube was actually working towards a paid subscription service. The code was probably meant for displaying messages to users as it read: “You can only subscribe to this paid channel on your computer,” and “You can only unsubscribe from this paid channel on your computer”, reported CNET.