It was probably only a matter of time before this occurred. The big wigs at Google have decided to offer a different version of YouTube that will basically be akin to a "Netflix for Youtube" product. It's called YouTube Red, and it will use a $9.99 per month subscription model to access any and all content with NO Ads.
That's not all you get for your monthly fee. Google also promises that the service also applies across all devices, anywhere you sign into YouTube. This will include YouTube's recently launched Gaming app, and will also apply to a brand new YouTube Music app, that they officially announced today.
The YouTube Music app has been floating around the rumor-mill for a while, and it is basically a streaming music service. As an extra bonus, YouTube Red will also work with Google Play Music, which means that when you subscribe to one you automatically get access to the other.
Finally, it looks like Google/YouTube is investing heavily in the future of the service. They are planning on offering unique, premium, original content that will only be found on YouTube Red. This is basically like the original shows and movies that you find on Netflix, except that Google is the one investing in and hosting them. Here's a link to the first spate of original content that YouTube Red has planned: YouTube Blog
For more info, here's a link to the YouTube Red blog post: Official YouTube Blog: Meet YouTube Red, the ultimate YouTube experience
You can also check out a YouTube video in the thread below describing the service.