YouTube has announced the existence of YouTube TV, a new over-the-top TV service set to launch within the next few months. YouTube TV offers live TV streaming, a limitless cloud DVR, and YouTube Red content, all for $35. Which should prick the ears of cord cutters everywhere.

Cord-cutters (who are looking to cancel cable) and cord-nevers (who have never subscribed to cable in the first place) are on the rise. And several companies are rushing to fill the void. With YouTube TV, YouTube is hoping to offer a real alternative to those sick of paying a small fortune for cable TV.

The Core of YouTube TV

The core of YouTube TV is live TV streaming from more than 40 different networks. These include ABC, CBS, NBC, FOX, ESPN, FX, Syfy, and National Geographic. Showtime and Fox Soccer Plus are available as add-on channels, and you get YouTube Red Originals thrown in for free.

YouTube TV also comes with a cloud DVR with no storage limits. This means you can record all of the content you want without ever worrying about running out of space. Recordings are stored for nine months and can be accessed from any screen at any time.

Undercutting the cost of cable, YouTube TV is set to cost $35-a-month with no commitments, meaning you can cancel at any time. A single subscription grants you six accounts, so every member of a family will get their own personal DVR, and recommendations geared directly to them.

YouTube TV will be "available soon in the largest U.S. markets" before rolling out to "cover more cities across the country". There are no plans yet to expand beyond the borders of the United States. Interested parties should visit tv.youtube.com to be kept informed about availability.

Cord Cutting Competition

YouTube TV looks, at least on paper, to be a compelling prospect. However, YouTube is late to the party, with a handful of other OTT internet television services already established. Having previously pitched Sling TV vs. DirecTV Now vs. PlayStation Vue, we know YouTube has a tough fight on its hands.

Do you currently have a cable TV subscription? If so, how much are you paying every month? Are you keen to cancel cable? Is YouTube TV likely to fill the void left behind? How do you rate YouTube TV on paper against the competition? Please let us know in the comments below!

Image Credit: Rego Korosi via Flickr