Sony Corp (ADR) (NYSE:SNE)’s streaming video service PlayStation Vue is getting enriched with more channels. A number of Walt Disney Co (NYSE:DIS)-owned channels such as the Disney Channel, ABC Family and ESPN are coming to PlayStation live streaming service. Sony’s PlayStation Vue costs $50 a month. It is unclear whether the addition of the Walt Disney channels will push up the price of the introductory package of PlayStation.
In a move that will certainly impress cord-cutters, Walt Disney is bringing several of its channels to Sony Corp (ADR) (NYSE:SNE)’s PlayStation Vue platform. Initially, channels such as ESPN, Disney Channel and ABC Family will be made available on PlayStation Vue. However, it remains unclear when exactly the Walt Disney -owned channels and programming such as Pretty Little Liars and Sportscenter will be accessible on PlayStation Vue.
Sony Corp (ADR) (NYSE:SNE)’s PlayStation Vue comes at a monthly subscription cost of $50 and features multiple channels. Besides Walt Disney that will be adding its programming to the digital video platform, Sony already has content contribution deals with channels such as MTV and VH1, which are owned by Viacom, Inc. (NASDAQ:VIAB) for PlayStation Vue.
Other content contributors to PlayStation Vue are Twenty-First Century Fox Inc (NASDAQ:FOX), AMC Networks Inc (NASDAQ:AMCX) and CBS Corporation (NYSE:CBS). PlayStation Vue’s list of channels also includes Cartoon Network, TCM and TNT from Time Warner Inc (NYSE:TWX).
Impact of cord-cutting
With the rise of cord-cutting, legacy television companies are looking for opportunities to stay relevant and going digital is one of the ways to do it. As such, it appears Walt Disney is focused on meeting cord-cutters where they are going if that will enable it to keep its financial metrics growing. Walt Disney missed top line expectation in the latest quarter (3Q2015), posting revenue of $13.51 billion when Wall Street was looking for $13.57 billion in revenue.
Streaming video movement
PlayStation Vue is available on PlayStation 4 and PlayStation 3. You can also stream PlayStation live streaming content on Apple Inc. (NASDAQ:AAPL)’s iPhones and iPads through a mobile app available on App Store.
Sony Corp (ADR) (NYSE:SNE)’s PlayStation competes with services such as Hulu and Netflix, Inc. (NASDAQ:NFLX). Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL)’s Google has also joined the digital video subscription service movement with YouTube Red.