AT&T Inc. To Compete With Netflix, Inc.?

AT&T Inc. To Compete With Netflix, Inc.?
By AT&T [Public domain], via Wikimedia Commons

While many believe that cable TV will soon be a thing of the past, AT&T Inc. (NYSE:T) wants in on the action. The company promised $500 million in funding along with the Chernin Group to create an over the top (OTT) television service.

While the field is crowded to say the least with companies like Netflix, Inc. (NASDAQ:NFLX) and Hulu in the lead, this will mark the first time that a big U.S. ISP has decided to go over the top with a TV service. AT&T is the second-largest broadband Internet provider in the United States and the leading wireless provider. Chernin for its part is the majority stakeholder in Crunchyroll, a subscription based provider of on demand video content.

RV Capital 1H22 Letter to Co-Investors in Business Owner