After months of anticipation, YouTube is finally opening a paid subscription option that provides content makers with a new way to monetize on the world’s largest video hosting site.
The platform has announced it is rolling out a pilot program in which 30 professional content creators will be offering 53 paid channels available with monthly subscriptions starting at $0.99. In addition to subscription fees, the content creators will also be able to run advertising on their channels. Revenues will be split between the content providers and YouTube—55% will go to the creators and 45% will be the video platform’s charge. All of the paid channels will have a 14-day free trial, most of them will offer discounted yearly rates. According to Reuters, the paid subscriptions will be available in 10 countries at launch.
Looking to extend the number of qualifying content makers, YouTube invites perspective partners to sign up for the subscription service. Currently, more than 1 million channels are generating revenue on YouTube, and the paid subscriptions come as a new way to add flexibility to their monetizing efforts.