Netflix and Amazon are known as the leaders in the SVOD industry, which has a lot of money to offer to companies that stream content to computers and mobile devices. However, big media companies are entering the field to stop these SVOD firms from dominating the market, and the latest to do so is Time Warner.
Media firms entering SVOD industry
Over the past few years, we have seen the launch of subscription streaming services from companies such as HBO, Showtime, Hulu, and Verizon, with the latest coming from Time Warner. These media companies are making an effort to chase “cord cutters” and “cord nevers” who do not opt to pay for cable or satellite television service.
On Tuesday, Time Warner revealed plans to introduce a new movie streaming service called FilmStruck, which is scheduled to debut later this year. Turner Classic Movies will offer on-demand streaming access to indie films and Criterion’s library of movies in partnership with the Criterion Collection.
FilmStruck will feature a library of arthouse, indie, foreign and cult films such as Akira Kurosawa’s Seven Samurai, Robert Altman’s The Player and the Beatles film A Hard Day’s Night. The media giant’s plans are undoubtedly interesting, but its new service may not pose much of a threat to Netflix, says BGR.
Not a threat to Netflix
Speaking about FilmStruck, Turner CEO John Martin said, “It’s tailor-made for the diehard movie enthusiast who craves a deep, intimate experience with independent, foreign, and art house films. And it takes advantage of TCM’s powerful curation capabilities, as well as its proven track record in building a long-term relationship with passionate film fans.”
In other words, Time Warner’s streaming service is a niche play and won’t be a rival to mainstays like Netflix, Amazon and Hulu at all, the report says. This new service, which will launch sometime this fall, will serve as an exclusive home to Criterion Collection content. Pricing has not been announced yet.
Last year as part of its efforts to attract “cord cutters” and “cord nevers,” Time Warner introduced an online-only version of HBO and bought two tech businesses, namely, iStreamPlanet and DramaFever, with specialization in managing online video services. It also made large digital investments in CNN, the website Mashable and the sports website Bleacher Report.