YouTube is seeking to acquire rights for streaming TV series and movies for its $9.99-a-month (€9.44) YouTube Red subscription service as it looks to compete with rivals such as Netflix and Amazon, according to the Wall Street Journal.

It is understood that company executives have met with Hollywood studios and other production companies in recent months to consider pitches and negotiate licences for new content.

According to the WSJ, YouTube is still deciding how much content to license, but intends to build a strong collection of original programming and licensed programming in 2016 and beyond.

YouTube is understood to be building on existing relationships of [fellow parent company Alphabet Inc.-owned] Google Play with movie studios and other premium video content owners to negotiate streaming deals.

YouTube Red, which was launched in October, allows viewers to watch videos from across the site without interruption from advertisements.

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