Video streaming site to launch ad-free service today

Reports have reveal that YouTube will unveil its long-awaited subscription service at an event today in Los Angeles.

According to a report by Re/Code, the service will include ad-free versions of videos which are currently available on YouTube. In addition the $10-per-month offering will also include original programming which will be available to only subscriber of the service.

YouTube, however, has not specified what type of content subscribers should expect. YouTube had announced earlier in the year that four of its top users had already signed contracts to bring their original content to the Google-owned site.

READ: Top 5 Australian YouTubers you should know about

The Wall Street Journal also revealed last week that YouTube is inking deals with the likes of Fox Sports, A&E Networks, NBC Universal, and possibly Walt Disney Co.

The WSJ also revealed that content creators will earn 55% of the subscription revenue, with an additional cut coming from how much time users spend watching such videos.

Back in May 2013, YouTube launched a paid channels as part of a new pilot program that gave content creators a new way to earn revenue from their videos.