The Wall Street Journal reported that Verizon Wireless customers would be able to subscribe for $15 per month to a ‘V Cast’ video service showing clips from the YouTube site. Verizon would also offer an on-demand service for TV.

Both firms have declined to comment on the alleged deal.

Mobile video has been taking off in a big way in the US, with Verizon, Cingular and Sprint all offering video and TV services for phones. Tech and media companies have been investing heavily too, with subscription video service MobiTV recently reporting that it has raised $100 million in funding.