Verizon has signed a deal with Scripps Network for its upcoming OTT service.
Verizon Communications Inc. which is the largest network carrier in the United States recently announced that the company has signed a “multi-year content licensing contract with Scripps Networks Interactive Inc.”. The deal is regarding the mobile first over the top service (OTT) service that is likely to launch in the coming year.
The deal signed with Scripps Network is followed by the Verizon’s content agreement with Awesomeness TV which was signed earlier this year. According to sources, this deal was signed by the company to beef up its digital network for programming of its two channels that targets teens and millennial. As it is known, Awesomeness TV offers its viewers with two hours of original programming for many years to follow.
Moreover, Verizon has also joined hands with other partners that include 120 Sports by Time Inc., Campus Insiders, CBS Sports, ACC Digital Network, and ESPN that will secure the sports programming section for its new platform. Apart from this, the company will also offer live streamed National Football League to its customers in the service. This will be a part of the deal Verizon signed with Pro Sports League.
Verizon plans to join the list of cord cutter after it is all set to launch it's upcoming mobile firstOTT service. The company’s new project target the cord cutters that are preferring digital formats including mobile devices over others. The VP of strategy and acquisition of content at Verizon, Terry Denson, explained in detail about the benefits of Verizon’s upcoming mobile first OTT service. Apart from its convenience, it is the preferred choice for content based services. to target the young audience who is keen to use their smartphones for such content seems like a good bargain.
Internet TV is spreading all over the US market vigorously and the traditional television and pay TV cable industry is facing tough competition from the online streaming service providers in the region. The fierce competition is resulting in the cord cutting of the viewers. The OTT service which is comparatively cheaper has to result in cord cutting on a whole new level. This can dent the business model which is being used by the entire pay-TV market. On the other hand, Internet TV has succeeded in becoming a relatively better substitute. At this point, Verizon currently has one target focusing its mobile video service that is to intrigue the younger audience who are more compelled to view programs through their smartphones.
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