Alphabet Inc.'s GOOGL, -2.41% GOOG, -2.37% YouTube will launch a live television service called YouTube TV later this year. The subscription-based service will include more than 40 networks spanning the four major networks - ABC, CBS, NBC and FOX - and additional cable channels, such as Disney, for $35 a month. That price will include up to six accounts, which can be individually personalized. The service will also include components of live television, such as sports. At the event premiering the new service, YouTube TV showed a preview featuring ESPN. The service also includes a cloud-based DVR to let users record video to watch a later time. YouTube TV comes as more customers continue to cut the cable cord, opting instead for services such as Amazon.com Inc. AMZN, -1.78% Prime and Netflix Inc. NFLX, -0.05% . Shares of Google fell 0.6% to $844.93 in after-hours trade. Shares of Netflix and Amazon also ticked lower.