Enlarge

Today at an event in Los Angeles, YouTube announced a huge new feature that could change what you watch on the online video platform. The company debuted YouTube TV, a television streaming service that combines live content from broadcast and cable networks with content from the online creators that have made YouTube so successful. This comes as YouTube also revealed the passing of a huge milestone: as of last year, users globally watch one billion hours of content on the site every day.

YouTube TV will launch in the coming months and will start off with over 40 networks available for streaming. Subscribers will be able to stream live content from these networks, and record shows for later viewing with no storage limits. A YouTube TV subscription will cost $35 per month, and that gives you six separate accounts to share with friends and family.

At the event, YouTube CEO Susan Wojcicki introduced the new subscription service by diving into three big changes in how people consume content over the years. The rise of cable was the first, which expanded the universe of channele selection to including news, music, sports, and scripted shows. The second was the rise online video, which continued to expand the types of content available and made way for personality-driven content like that of many YouTube creators. The final was the rise of the smartphone, which changed the way people consumed content by moving it out of the home and into people’s hands, wherever they may be in the world. Wojcicki claims YouTube TV is a product of all those changes, and it puts YouTube TV directly in competition with other streaming services including Sling TV and Playstation Vue.