This past Wednesday, YouTube announced YouTube Red, a new service that will allow its subscribers to enjoy YouTube without all the ads. In addition, the company announced YouTube Originals, an exclusive content service provider available only through YouTube Red.

The new service will cost $10 a month, and will work across all of YouTube’s apps, including its forthcoming music service.

Abstract background in blue, yellow, white and red tones.

YouTube is currently the largest video streaming provider in the world with net revenue ranging from $5 billion to $10 billion. Though most of this inflow comes from advertising, the company hopes to tap into the constantly growing sector of people who embrace paid subscriptions in favor of ad-free content. Average television viewership is down 11 minutes a day per person, while average digital screen use is up 10 minutes. YouTube expects its share in people’s screen time to keep growing as it capitalizes on paid subscriptions.

There are several enticing benefits to subscribing to YouTube Red, which YouTube’s “Meet YouTube Red” video emphasizes. Not only will the service offer exclusive content from big-name cable providers, but it will also allow subscribers to download videos and watch them offline:

Television is arguably dying now. As YouTube and other video-streaming services replace traditional entertainment platforms, the way companies advertise will change radically. Be prepared to adapt to the changing climate.

See Social Media Today for more.