Yesterday CBS announced that it is launching a new digital subscription, video on-demand and live streaming service called CBS All Access. For a monthly fee of $5.99, subscribers can see their favorite television shows on CBS.com or on their mobile devices using iOS and Android apps.According to CBS News, subscribers can view more than 5,000 episodes of CBS classic shows like Everybody Loves Raymond and Family Ties from the CBS archives as well as episodes of current shows like NCIS, Big Bang Theory and Elementary. For series in the network’s current line-up, episodes will be available the day after the shows air, like the On-Demand feature available through Xfinity. In addition, past seasons of popular shows like The Good Wife and Blue Bloods will also be part of the package.The success of companies like Netflix, who have capitalized on younger, digitally driven audiences, has shown that subscription models for video on demand are viable. In fact, The CBS announcement comes just one day after HBO unveiled its plan to allow subscribers to purchase HBO Go as a stand-alone product. (HBO will make its digital version available in 2015, but HBO has not revealed pricing details or what programs will be available yet.)However, CBS already makes most of the aforementioned shows available for next-day viewing for free via its website, cbs.com. Therefore, unlike HBO, CBS will face the “original sin” complication of trying to get audiences to pay for content they can currently access for free. It’s do-able, as we’ve seen with TheDay.com which instituted a metered paywall back in 2011, after being free online for 16 years.To its credit, CBS seems to be offering more perks for subscribers than just free viewing. Fans of Big Brother will be excited to learn that they will no longer have to pay an extra fee to get the live-streamed 24/7 video coverage; that bonus feature will be included in the subscription at no extra charge. With the right product mix and subscription pricing, CBS might just be able to convert free, network television into a profitable digital subscription success!