YouTube will unveil its TV streaming service later today, sources with knowledge on the matter told the New York Post. The streaming bundle that the Google-owned company is allegedly getting ready to announce in several hours will reportedly be similar to the Sling TV service currently offered by Dish in the sense that it will provide consumers with a variety of channel options. The modular service is said to cost between $30 and $40 per month, a source with knowledge of the product revealed. If the report is accurate, the announcement will likely be made during a YouTube-hosted media event at Chelsea Market in Manhattan, New York City that's scheduled to start later today. The popular online video service didn't reveal the purpose of the event when sending invites, but more details are bound to be available in the coming hours.
YouTube has been rumored to launch a TV streaming service for months now. Recent reports indicate that the company's platform will bear the name "Unplugged" and be significantly cheaper than a majority of competing products on the market. Google reportedly struck deals with major media companies like 21st Century Fox and Disney over the course of last year, all with the goal of securing more content for its upcoming TV streaming service. While YouTube isn't the first company looking to introduce such a service in the United States, the market itself seemingly isn't saturated and likely has enough room for another player. When launched, YouTube's product will compete with Sony's PlayStation Vue, the aforementioned Sling TV, and AT&T's recently launched DIRECTV NOW. While both 21st Century Fox and Disney allegedly agreed to a deal that would bring their media content to YouTube's upcoming platform, their joint venture company Hulu is also currently preparing to launch a competing product.
This latest rumor is in line with a report from mid-January according to which YouTube was on the brink of launching its virtual cable bundle. It remains to be seen whether today's the day that finally happens, but more information on the matter will likely follow shortly. Even if the Google-owned company launches the service at a later date, one thing is certain – the U.S. TV streaming market is bound to get even more competitive in the coming months.