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(USA Today) -- Google is planning to launch a subscription service for some YouTube channels to raise revenue and help finance independent video producers, according to the Financial Times.

Under the new terms, viewers will be required to pay about $1.99 or higher per channel, the report says, citing people familiar with the plan.

The move, which could be announced as early as this week, will apply to as many as 50 YouTube channels.

YouTube told the Financial Times that it was "looking into creating a subscription platform that could bring even more great content to YouTube for our users to enjoy and provide our creators with another vehicle to generate revenue from their content, beyond the rental and ad-supported models we offer."

Analysts have long anticipated a subscription model for some YouTube channels as the video content by professional producers has become more sophisticated and compelling.

While YouTube's advertising revenue continues to grow at a rapid pace, its new plan opens the gate for another lucrative source for growth.

Digital video advertising is anticipated to grow to $4.14 billion this year from $2.93 billion last year, eMarketer estimates.

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