|
Turner, which is a division of Time Warner Inc, is the latest
in a wave of media companies to launch its own over-the-top
video service to accommodate the growing number of younger
viewers who are cancelling cable subscriptions in favor or
watching content online, a practice known as cord-cutting.
The new service, called FilmStruck, will focus on independent,
foreign, art house and cult classic films that people know and
not original shows as streaming video providers, like Amazon,
Hulu and Netflix, are increasingly doing.
Turner is partnering with New York-based film distributor,
Criterion Collection, which until now had offered all of its
1,100 films through Hulu.
FilmStruck will not only feature films like "Mad Max," "Cinema
Paradiso" and "Seven Samurai," but also will have filmmakers'
commentaries, bonus content and stories about the films
themselves, Coleman Breland, president of Turner Classic Movies
and Turner content distribution, said in an interview.
"We didn't just jump into the fray and say let's offer an SVOD
[streaming video on demand] service," Breland said. "This is
very targeted and focused."
FilmStruck will be managed by Turner Classic Movies. The company
hopes to announce pricing for the service within the next 60
days, said Breland. The service will be solely
subscription-based and will not have any advertisements.
Turner is launching its own streaming online service just months
after reports surfaced that its parent Time Warner was in
discussions to take a stake in Hulu, which is jointly owned by
21st Century Fox Inc , Walt Disney Co and Comcast Corp's
NBCUniversal.
The launch of FilmStruck is one example of what customers and
investors should expect to see more of from Turner in the next
several months as the company focuses on being more
consumer-centric, said John Martin, chairman and CEO of Turner.
(Reporting By Jessica Toonkel; Editing by Cynthia Osterman)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
