YouTube has discussed such a scheme with film makers Lions Gate, Sony Pictures, and Warner Bros, according to reports.
The move comes as Google looks to placate media producers who want a guaranteed income stream in return for allow their content to be shared. YouTube users are already able to watch Channel 4 content via the site, with Google and the broadcaster sharing the advertising revenue.
YouTube is considering two options: a rental fee, or a subscription service, but it maintains that the ad-supported delivery of free content remains a viable model.
Speaking to Reuters, Google's vice president of content partnerships, David Eun said: "We're making some interesting bets on long-form content; not all content is accessible to us with the advertising model.
"If we just continued to focus on our advertising model that would be enough opportunity to create meaningful revenue.
"The biggest opportunity today is advertising and we've just begun to scratch the surface."