There's no denying the Netflix success of recent years. Like-minded services such as Hulu and Amazon Prime have also emerged as good and profitable platforms of media. Word is, even Google has taken notice as it has been revealed that the tech giant wants to use the new YouTube Red to provide even more competition in the entertainment business.

According to a report from Wall Street Journal via Phone Arena, Google's YouTube Red is gearing up for new content by talking to studios about their plans. Much like Netflix streams original shows produced by outside studios such as "Jessica Jones" and "Daredevil", YouTube Red is planning to provide the platform for such films and shows, not necessarily producing their own content just yet.

It's a new venture for the veteran company YouTube's original content. According to a report from Entrepreneur, co-founder and co-CEO of ZEFR, a YouTube marketing and data firm, Rich Raddon said the company would be changing its role in the web as a technology company and position itself "more of a media company."

No longer is YouTube -- or YouTube Red -- a tool for the grassroots or community creators to showcase their work, but a new platform for the entertainment media and studios.

"There's something really beautiful about YouTube in that a kid from Iowa can become as famous as a huge media brand," Raddon explains. Now that the company is directly seeking deals with the industry bigwigs and brands, he added, "it'll be interesting to see if they move philosophically away from that viewpoint."

YouTube Red is a subscription service offering ad-free YouTube videos, offline play, exclusive content and Google Play Music All Access. When it first launched in October, there were plenty of sceptics who doubted if the application will take off in the midst of other services and the free YouTube website and app.

A report from TechCrunch revealed that the paid service is actually raking in a significant amount of money. As the free trial wound down, the app climbed the charts on the iOS App Store. Sensor Tower estimated the YouTube Red to be making around $350,000 per day or 27,000 subscribers shelling out $12.99 every month.

Relatively new, the YouTube Red has some room to grow, and reportedly planning to do so in content and performance.

"While we're incredibly pleased with its growth so far, YouTube Red is a long-term bet," the company told Entrepreneur. "And we see its success being measured over the next few years."