Google’s YouTube yesterday unveiled its much anticipated paid-subscription channels, that will enable some of its video content partners to charge a monthly fee for access to programming. The channels could become a new revenue stream for the video site and its content partners. The subscription model has attracted producers who have been seeking an option to YouTube’s online advertising model.

The producers of “Sesame Street” and “Ultimate Fighting Championship” are two such examples.

“Malik Ducard, head of content partnerships at YouTube, said in a conference call with reporters that YouTube viewers will be able to pay for access to the special channels by using their credit card,” reports the Wall Street Journal. “He said the channel creators will get to keep more than 50 percent of the revenue while YouTube keeps the rest, similar to the arrangements that exist for sharing the site’s ad revenues.”

Ducard noted that 30 producers are participating in a pilot program that will include 50 paid subscription channels, which are expected to be made available on average for $2.99 per month. Additional qualified partners will offer more on-demand and live content in the coming weeks.

According to Ducard, there are currently more than one million YouTube channels that generate ad revenue. The site reports that more than one billion users visit each month.

“Despite the rise of Web video, revenue growth from the business has been slower than many in the industry expected, because advertisers have been resistant to shifting broadcast TV ad dollars online,” notes WSJ. “As a result, YouTube has changed some of its policies to help video creators generate more revenue from their videos, both on and off the site.”