Fran Shammo, CFO of Verizon Communications Inc. (NYSE:VZ), announced in an investor conference that the company shall launch its video service this summer. This would especially target audience who wish to avail this service on wireless connections like phone and tablets. For this purpose, Verizon has joined hands, with Dreamworks Animation SkgInc’s (NASDAQ:DWA) Awesomeness TV unit.
As per the collaboration, AwesomenessTV will provide more than 200 hours of TV shows, which would be divided into two channels. One channel – AwesomenessTV channel, targeted at the teenagers and another DreamWorksTV channel, targeted at the family audience would include some of the popular characters from DreamWorks Animation.
This has been the first official announcement of the company, with regard to its actual video content. Earlier, Verizon’s executives had said that they would go for the traditional TV programming route. However, after the aforesaid announcement, it remains to be seen as to which route the company will finally take- traditional programs or something from outside the TV world.
An official announcement is yet to be made as to whether this service is going to be a paid service or not. Also, whether this service will come as a value-addition to the existing customers of Verizon or else this service will be marketed outside the existing subscriber base.
Irrespective of above, the announcement has officially launched the company into an area, which has already been attracting various new entrants for some time now. While DISH Network Corp (NASDAQ:DISH) has already launched its Sling TV, Time Warner Inc’s (NYSE:TWX) HBO is about to launch HBO Now. CBS Corporation (NYSE:CBS) has also announced its intentions of launching something similar very soon.
Sony Corp (ADR) (NYSE:SNE) is about to launch a paid TV service in some U.S. cities this month itself. Also, AT&T Inc. (NYSE:T), Verizon’s main competitor,will soon come up with its own set of video service.