According to The Wall Street Journal, Google will invest as much as $100 million in the new venture, most probably involving its acquisition last month of video house Next New Networks. The new content will also be arranged in channels, with viewers able to easily search for sports content for example.

Speaking about its acquisition of the production company, director of YouTube's global content operations, Tom Pickett said, "Within YouTube, Next New Networks will be a laboratory for experimentation and innovation with the team working in a hands on way with a wide variety of content partners and emerging talent to help them succeed on YouTube."

The company also announced its Creator Institute, conducted in partnership with the Columbia College of Chicago and the Southern California School of Cinematic Arts. The program will teach content creators how to use their video skills to become the next viral hit, with a curriculum including cinematography and social media tactics among others.

It's clear that Google is planning big things for YouTube in the near future, seemingly aiming to turn the streaming site into more of a permanent, "TV-like" destination where users can come to enjoy premium, original content.