Verizon CEO reveals plan to launch TV streaming service

AOL just got bought by the king of mobile. Verizon has a massive platform for video
Photo: Verizon

Once Verizon’s acquisition of Yahoo finally gets completed this
summer, a new TV streaming service could roll out to customers
shortly after.

The news that
Verizon is planning to enter the highly competitive streaming
TV market was revealed today by the company’s CEO Lowell
McAdam, who says the platform will be a great place to test out
an over-the-top service.

The “platform” McAdam is referring to are the 1.3 billion users
Verizon will have access to thanks to Yahoo’s web services.
Details haven’t been released yet on how Verizon’s streaming TV
service will work, but
McAdam’s comments
are the first official word that it’s
definitely in the works.

During his
remarks today at J.P. Morgan’s Global Technology conference in
Boston, McAdam also revealed that that Verizon’s purchase of
Yahoo will conclude in June. Despite the company’s push into
video streaming, McAdam’s says creating fiber-based networks
and 5G wireless data is still the company’s core focus.

“On the connectivity side you can make
a very good return [on investment],” McAdam said. “Consumers’
eyes light up when you can deliver a gigiabit to the handset.”

service will still be separate from the company’s existing
mobile video service Go90. The over-the-top offering will
likely be similar to Sling TV and DirecTV Now which is owned by
Verizon’s biggest competitor, AT&T.

On the
content side, Verizon already has some strong offerings for
customers. The company is paying the NFL $21 million for the
rights to the Sept. 24 game between the Baltimore Ravens and
Jacksonville Jaguars in London. That game will be streamed live
across all of Verizon’s video platforms, including AOL.

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