Verizon has announced that it has acquired a 24.5 percent stake in online network Awesomeness TV and that it’s going to launch a new premium video service with the network which is going to be launched on its Go90 video service. The new service is going to provide short-form content such as comedies and dramas for teens.
This is the second deal that Verizon has inked with AwesomenessTV. The two companies have previously signed a multi-year content deal through which AwesomenessTV will provide 200 hours of content, Verizon has already received feedback on the network’s shows which have made their way to Go90.
“The content AwesomenessTV has produced for go90 has exceeded all our expectations,” said Verizon executive vice president of product Marni Walden. “AwesomenessTV has demonstrated an ability to zero in on programming that Gen Z and millennials want to watch.”
The 24.5 percent stake that Verizon has acquired in AwesomenessTV values the company at $650 million. The content which will be funded by this deal is going to be exclusive to Verizon in the United States, however, the network will retain the right to sell that content in countries outside the United States.
Verizon has been working hard to attract a younger audience towards its Go90 video streaming service and this deal will surely help the company to achieve that aim.
Filed in . Read more about Go90 and Verizon. Source: prnewswire