- According to the Wall Street Journal, Time Inc., is getting into the streaming video business with an ad-driven service called the People/Entertainment Weekly network.
- Rich Battista, president of Time Inc.’s entertainment and sports group and video, described the network as an over-the-top service that will “will be presented on every digital device and platform in the entire digital OTT ecosystem.”
- The move by Time is a reaction to a decline in print advertising revenue and a simultaneous rise in online video.
Streaming video is a major topic in the industry right now. From Facebook’s emphasis on its streaming feature, Facebook Live, to Twitter’s recent deal to live stream NFL games next season, streaming content is seeing its star rise and marketers are taking notice.
About Time’s initiative, Battista told the Journal, “We’ll be able to offer unique programming because of our unique access. And we’ll have the marketing power of Time Inc. to get out the word.”
Time’s network will hit the public with more than 100 hours of original programming as well as 50 hours of archival content from People and other Time Inc. brands.
Free video content designed to appeal to cord cutters is a growing area. Late last year Hulu was looking toward third-party measurement for successful ad revenue from it’s free, ad-driven streaming video content. What marketers should do is take stock and ensure their audience is actually viewing the new content before spending ad dollars on an unproven marketplace.
Wall Street Journal:
Time Inc. to Launch People/Entertainment Weekly Streaming Network