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YouTube Red was officially launched on October 28, 2015 as a paid subscription service with features such as ad-free streaming of both music and videos, background playback, offline playback, and original feature films and series featuring popular YouTube personalities.
YouTube Red's logo was updated on August 31, 2017 to fit in line with YouTube's then-recent redesign introduced two days earlier. An example of the use of the alternate logo (as opposed to the logo seen above it on this page) would be taking the place of the regular YouTube logo in the top bar on their mobile apps.
YouTube Red was rebranded to YouTube Premium and will spawn a sister app and subscription service under the YouTube Music name.