With You Tube today bringing even more attention to the streaming TV market, the question now is whether this will be the tipping point where the number of competitors outpaces the growth of the over-the-top market itself. The company is taking sign-ups on its homepage now.

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No other company in the world has more experience serving high-quality video over the internet, high-def streaming, apps that don’t crash and seamless integration with mobile and web.” Features: search, cloud DVR, recommendations & social You Tube TV will challenge traditional cable TV players by offering a DVR that never runs out of space, and that’s capable of simultaneous recordings.

Cloud-based DVRs have become table stakes in the live TV market, as competitors like Sling, Vue and Direc TV Now offer this feature. But You Tube TV will offer each account its own personal DVR, as well as its own tailored recommendations, shown when the app is in portrait mode.

And everything on the service is ad-supported, unless you subscribe to You Tube Red and are watching You Tube (not network TV) content. You Tube TV is launching into a crowded and highly competitive landscape that’s now filled with internet TV services.

Beyond the top on-demand players, Netflix, Amazon, Hulu and HBO NOW, there’s a host of live TV services, including Dish’s Sling TV, Sony’s Play Station Vue, AT&T’s Direc TV Now and, soon, Hulu, which is launching a live TV service of its own.

After a year of rumors, You Tube is finally drawing back the curtain on its latest play for entertainment industry domination — a live TV service.

At the company’s Playa Vista offices, a crowd of roughly 100 journalists settled into tables and chairs arrayed in the company’s hangar-like foyer to the strains of “Video Killed the Radio Star” and “Coffee and TV” to hear the news. Distinct from You Tube Red, the new service, You Tube TV, which has been in the works for years at Google’s internet video behemoth, has quietly been inking contracts with media companies to distribute their content on its TV service.

As previously reported by The WSJ and Bloomberg News, a steady drumbeat of leaks had already set the tone for what will be offered by the service.

According to Bloomberg, You Tube had been talking with all of the major networks to roll up content.

However, it will only launch in markets where it can offer full, live local broadcast feeds, like L. “We decided to create an offering that would give them all of these can’t-miss live moments,” said You Tube Chief Business Officer Robert Kyncl of You Tube TV’s offering. Missing, however, is content from Scripps, Viacom and Time Warner, like HBO. Kyncl said that could change, as You Tube is “always in conversations” with potential partners.