According to a recent report from Bloomberg, YouTube is apparently planning on launching a cheaper version of its Premium Plan. The cheaper 'Premium Lite' plan would essentially allow ad-free viewing for the majority of content on the platform, but the ads would still be shown on music videos.

The current Premium plan currently costs $13.99 per month in the US and £11.99 per month in the UK. Speaking to Bloomberg, a YouTube spokesperson said the following:

"As part of our commitment to provide our users with more choice and flexibility, we've been testing a new YouTube Premium offering with most videos ad-free in several of our markets. We're hoping to expand this offering to even more users in the future with our partners' support."

YouTube Premium Lite has been in tested in various markets for the past few months, such as Australia, Germany, and Thailand.

According to the Bloomberg report, more information will be announced soon.