Is a YouTube subscription fee coming soon? The latest reports are that the video service is going to start charging subscribers a fee for certain channels on their website.

The Mashable website reported about the news on May 5, saying that the new subscription fees could come as early as this week. Reportedly, this move has been under development for months, and is an effort to help channels be able to finance a wider range of content. It will also serve as a another source of revenue for the video service. Apparently, the subscription service will include as many as 50 YouTube channels, with prices for subscriptions to each channel starting as low as $1.99 per month.

Mashable was told by a YouTube spokesperson:

“We have nothing to announce at this time, but we’re 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.”

For the most part, content on the YouTube site has been monetized via Google and other advertisements. However, this new subscription service could open the gate for more premium content on the site. YouTube already offers the ability to stream newer movie rentals online, much like Amazon.com and iTunes store. This new service may also be a way to compete with other premium online content services including Hulu Plus and Netflix.

What do you think of the idea that YouTube will have a subscription fee for certain channels? Do you welcome the idea of a wider range of content, or think it’s just another unnecessary cost?