Many electronics producers have expressed intent to creating an all-in-one entertainment hub. Microsoft is trying to do it with Xbox. Apple does it on a small-scale with the iPhone. And now it looks like Google could be doing it with YouTube as early as this week, implementing a new subscription service to go along with rumors for a music streaming service.

AndroidAuthority, a fan/leak/rumor site for all things Android, cited this morning an article from the Financial Times indicating a YouTube subscription-based service by Google could appear this week. Supposedly pricing is set for an easily-affordable $1.99 per month, which would undercut streaming sites like Netflix and Hulu significantly. Both sites are priced at $7.99 for access to their videos. 50 channels are reportedly already to utilize the service.

YouTube became one of the internet’s biggest sensations since, well, the internet itself when it was founded in 2005. The site completely revolutionized the way we interact with online entertainment allowing for anyone 18+ to upload and share videos. Google purchased YouTube in 2006 for $1.65 billion.

I can’t foresee any real issue with this new subscription service, except maybe some copyright issues that could easily be ironed out. People love YouTube and for such a low price wouldn’t have any qualms with switching over. Videos uploaded now can be of any quality but a subscription service would have to guarantee a completely lack of pixelated videos, otherwise it would be pointless to charge money. Living on a budget myself has compelled me to abandon Netflix despite its providing a wide range of television shows and movies at my beck and call for less than $10 per month. Being conscious of every cent of every dollar makes me more inclined to activate a subscription with YouTube instead of reactivating my account with Netflix.

But I want to hear from Netflix and Hulu frequenters. Are you likely to switch over based on price alone? Are you comfortable enough with your current service to turn away from YouTube? Leave us your thoughts in the comments section below.