YouTube TV Unveiled With ABC, CBS, Fox and NBC

In addition to the broadcast networks, YouTube TV includes dozens of cable channels, such as ESPN, USA, FX, Disney Channel, MSNBC, Fox News, Sprout, E! and Bravo-all owned by media companies that own broadcasters.

Set to launch in the coming months, YouTube TV will cost $35 monthly, with six user accounts allowed per subscriber, positioning itself to compete against so-called "skinny bundles" from Dish Network's Sling TV and AT&T's DirecTV Now. And YouTube TV offers dozens of additional cable channels, so you won't miss out on the latest news from MSNBC or Fox News, popular shows and movies from US or FX, kids programming from the Disney Channel or Sprout, or reality TV from E! or Bravo. It also will include regional sports networks, such as Fox Sports, to stream local National Basketball Association and Major League Baseball games.

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Updated: The service will launch sometime in the next few months, and no worldwide launch is planned.

YouTube is the number one video service, and says some 1 billion hours of videos are watched daily on its network. They can also record as many programs as they want.

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In 2015, Google launched the commercial-free service called YouTube Red for $10 a month. You get AMC, but there is no access to Viacom or Turner's networks. The industry sees online TV services such as YouTube TV as the best way to reach consumers, especially younger consumers, who have chose not to subscribe to a traditional cable TV bundle. Six YouTube accounts will have access to this service with three consecutive streams at a time. We've also partnered with local TV stations, so you'll also get sports and local news based on where you live. Are you signing up for YouTube TV? Hulu is supposed to come out with its live streaming service shortly as well.

As for where it will be available, YouTube and Google gave no specifics.

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Now it's clear that YouTube TV is definitely not the complete package.