Verizon is inching back toward the video streaming market. Five months after abandoning Redbox Instant, its previous attempt at competing against streaming giants like Netflix, the telco is gearing up to offer an as-yet-unnamed streaming service. And while the details are scarce, it looks like the blanks will be filled in soon.
Verizon is reportedly launching its own Internet video service this summer, complete with a newly acquired host of content from the AwesomenessTV unit of DreamWorks. The service, which will reportedly be available on mobile devices, will target teens and families.
Verizon said Awesomeness will provide more than 200 hours of new shows for the service, broken up into two channels: An AwesomenessTV channel aimed at teens and millennials, and a DreamWorksTV channel for families, which will include “live action and animated short-form content as well as some of DreamWorks Animation’s most recognizable characters.”
It’s not clear how comprehensive the service will be, or whether it will stand alone as a subscription service like or be something that ties pay TV subscribers to an online supplement available only to them.
Earlier this year, Dish Network launched Sling TV, its own answer to the cries of cable cord cutters. For $20 per month, subscribers can stream a growing assortment of TV shows from over a dozen major channels, with or without a cable subscription. Verizon’s Redbox Instant went live in March 2013, only to be shut down late last year due to a lack of interest and security issues that only compounded its growth troubles.
AwesomenessTV provided a rare bright spot in a year of box office gloom for DreamWorks, which, according to the New York Times, sold a 25% stake in the web video company to Hearst for $81.25 million—more than double what the studio acquired it for back in 2013. Who knows what exactly this new video service will do for either Verizon or DreamWorks, but you can bet both companies are crossing their fingers for something good.