On Thursday, Google-owned video giant YouTube announced its plan to launch a new subscription offering dubbed "YouTube Red." The company's new platform will feature ad-free videos and Google Play subscription similar to Spotify, a report from Gamespot said.

According to the report, YouTube's Red will allow subscribers to watch videos offline or in the background while using other applications in various devices. With the Spotify-like feature, subscribers can stream music seamlessly for only $10 a month. The company also revealed its plan to launch YouTube Music app, a companion app that comes with the YouTube Red subscription.

"YouTube Music is designed to make discovering, watching and listening to music easier than ever. Any song or artist you choose on YouTube Music will start you on a personal journey through one of the richest music catalogs; just sign in, tap a track you love, and see where your music takes you," YouTube said in a statement via its official blog.

Yahoo reports that YouTube Red will be launched on Oct. 28. The company's new subscription offering will also include exclusive access to different music videos and songs via YouTube Music.

"...As a special bonus - YouTube Red works with Google Play Music, so subscribe to one and automatically get access to the other. And starting early next year, YouTube Red will get even better with member-only access to new, original shows and movies from some of YouTube's biggest creators," the company said.