Google is currently selling this service for youtube, branded "youtube red." It costs $10/mo and as part of that they also offer to repair some of the crippleware in the youtube app.
It doesn't seem worth it, to me. I need ad blockers anyway for other ad services and annoyances so I end up just avoiding their built-in ad-riddled apps and going through a browser for things like youtube. It's a poor experience but better than dealing with ads.
I understand the value prop for shipping crippleware apps in a low cost android phone, but they ship the same stuff on flagship $1k phones like the pixel. It's a bizarre choice.