Verizon Communications Inc. (VZ) To Launch Online Video Service

Most consumer related companies are focusing mainly on the younger generation and teens, as they contribute a big chunk of consumer spending habits. Therefore, it is no surprise that telecom major, Verizon Communications Inc. (NYSE:VZ) is turning towards the teens. The company is gearing itself to launch an online video service with a focus on teens.

OTP Channel

Verizon Communications Inc. (NYSE:VZ) disclosed that it will unveil over-the-top channels through Awesomeness TV. The TV was an online network focused towards young millennials and the owner of it was Dreamworks Animation Skg Inc (NASDAQ:DWA).

It was a multi-year agreement that Verizon was able to reach with Dreamworks Animation. It would enable Verizon, with a channel of more than 200 hours of unique content per year, to be produced by the channel. It would have both unscripted, as well as scripted series’, apart from a separate channel from the production house of Dreamworks Animation with a focus on family-oriented subjects.

Subscriber Base

The channel, AWESOMENESS TV, has a big subscriber base of more than 112 million, apart from more than seven billion views online. The TV has programming on Netflix, Inc. (NASDAQ:NFLX) and Nickelodeon, apart from the YouTube network.

The reach of Awesomeness TV is quite big, considering its subscriber and viewership based in all the networks. Verizon Communications Inc. (NYSE:VZ) disclosed that the two channels will be available only in the Americas, though the audience extended beyond the United States.

Awesomeness TV CEO, Brian Robbins, said that this was an excellent option to extend the audience for both DreamWorks TV, as well as Awesomeness TV. He said that the focus was on mobile where it has the biggest audience. Verizon Communications Inc. (NYSE:VZ) has not disclosed any details about the financial deal that the agreement will bring in to the company and Dreamworks Animation.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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