Both YouTube Premium and YouTube Music Premium grant users an ad-free streaming experience with support for offline videos or movies and background playback on mobile apps. Of course, these subscriptions aren't cheap, but you could save big with services' new annual plans, which are discounted until January 23rd.

Related: Why I'm Finally Ditching YouTube TV

YouTube Premium usually costs $12 a month, but with this limited-time discount, you could get a year of YouTube Premium for just $108. After a year of service, that's $36 cheaper than paying month-to-month for your YouTube Premium subscription.

Now, the YouTube Music Premium deal is a bit more complicated. YouTube Music Premium usually costs $5 a month for an individual or $10 a month for a family. After a year, those plans add up to $60 and $120, respectively. Because the discounted annual plan costs $90, it's only a good deal if you share YouTube Music with family members.

Here's how to sign up for these discounted annual plans:

  1. Open the YouTube or YouTube Music app. You can also visit the YouTube or YouTube Music websites.
  2. Sign in if you aren't already.
  3. Click your profile photo and select "Get YouTube Premium" or "Get YouTube Music Premium."
  4. Select "Save Money on Annual, Family, or Student Plan."
  5. Subscribe to the annual plan.

After this promotion ends on January 23rd, a YouTube Premium annual subscription will cost $120, while the YouTube Music Premium annual plan will cost $100. Bear in mind that Google won't give you a partial refund if you cancel your plan early, and according to the company's terms, these annual plans don't auto-renew after they expire.

Source: Google via 9to5Google