‘NewTV’ streaming service hopes to take on Netflix
Big names have joined forces to back a new streaming subscription service launching in 2019.
Disney, Sony Pictures, Paramount, Warner Media and NBC are just some of the US-based names supporting NewTV – in addition to UK-based provider ITV – which has amasssed a cool sum of $1bn (£770m) investment for its launch (some Wall Street banks and ‘America’s wealthiest family’ The Waltons got on board).
The service is being launched by Jeffrey Katzenberg (ex DreamWorks studio), who has teamed up with former HP and eBay boss Meg Whitman, who will serve as chief executive.
NewTV, a temporary name we understand, will have both a regular subscription and ad-free options and will offer up users original content, 15 minutes in length in a bid to capture the attention of the ‘Netflix generation’ who may watch things on a range of devices.
Partners will create new content for the sum of $15m per season, according to UK-based newspaper, The Guardian.
The likes of NBC Universal, Sony Pictures, Viacom (owners of Paramount Pictures and Warner Media) and Fox and Disney joining forces certainly makes for a powerful collaboration – though interestingly, Disney already invests in both Netflix and Amazon Prime Video. Watch this space to see if they manage to hit that magic sweetspot when it comes to delivering content people actually want to watch.