News
New venture to develop, distribute video content targeted at millennials.
Verizon has teamed up with publishing giant Hearst to form a joint venture that produce and distribute video content targeted at millennials.
Verizon Hearst Media Partners is already developing its first two channels: RatedRed.com and Seriously.TV.
RatedRed.com is aimed at people living in the U.S. heartland; that is, the Midwest, so-called ‘red states’, and the Bible belt. It will carry news and documentaries, as well as programmes about politics, religion, military affairs, outdoor life, food and music. Meanwhile, Seriously.TV will offer a humorous take on current affairs.
The channels will be distributed across Verizon’s go90 mobile video service, as well as its AOL unit and third-party networks.
"On the heels of our acquisition of AOL and the launch of go90, developing a portfolio of content enables us to capitalise on the forces transforming the mobile ecosystem," said Brian Angiolet, Verizon’s senior vice president of consumer product and marketing, in a statement on Wednesday.
"In Hearst, not only have we found a partner with deep domain expertise, but also one who shares our point of view on the opportunities created by shifting paradigms and what it will take to win while creating the networks of the future," he said.
Verizon Hearst Media Partners said it plans to launch its new channels in time for NewFronts, an annual series of events bringing together advertisers and media buyers.
"It’s the dawn of a new era of video brands for the next generation of viewers and in Verizon, we have found a partner with unparalleled ad, video and mobile technology that will accelerate the launch of new digital video channels for this mobile-first audience," said Neeraj Khemlani, co-president of Hearst Entertainment & Syndication.
The joint venture will be headquartered in New York City. Verizon said further details about its structure will be announced at a later date.
