Looking to shore up its content strategy, Verizon is again reportedly gearing up for a new video offering to compete with over-the-top players like Hulu and Netflix.
The mobile giant is planning an OTT content platform that would package video programming into “channels” and be distributed beyond Verizon’s Fios footprint, TechCrunch reports, citing a source inside the company.
Channels might take the form of standalone apps, and could be designed around themes like news, sports, and entertainment. Verizon’s Oath, which combined Yahoo and AOL, could also leverage content it already owns to use in the new offering.
It is unclear whether the new service would be ad-supported or paid, and a launch date has not been reported. The latest effort is a departure from Verizon’s free, ad-supported OTT mobile video offering Go90, which debuted in 2015 but has had muted success.
Last year, reports indicated Verizon’s attempts at an internet-based TV offering new hit a snag due to negotiations for programming rights and executive changes at the company.
In order to help Verizon’s offering stand out from the multitude of video competitors, each channel on the new service would feature “marquee” content, a source told TechCrunch. For example, a sports channel could leverage NFL content after the mobile giant inked a reported $2.25 billion multi-year, non-exclusive deal with the league.
Verizon has invested $4 billion to $5 billion in content deals, according to TechCrunch’s source, and the company is incorporating a digital component into its renegotiations of those agreements to include it in the new OTT offering.
Filed Under: Carriers
