Publisher Time Inc. launches new IPTV network saying ‘time is right to go direct to consumers’
Magazine publisher Time Inc. is starting its own push into the ad-funded TV content space launching its own over the top (OTT) content channel the People Entertainment Network.
Magazine publisher Time Inc. is starting its own push into the ad-funded TV content space launching its own over the top (OTT) content channel the People Entertainment Network.
Rich Battista, president of content for Time, told its Newfront presentation in New York they were launching the new IPTV network because “the delivery of over-the-top video is progressing rapidly and our company never participated in the TV ecosystem, but now we have the ability to do it”.
“We believe there is an unique opportunity to go direct to consumers with a lean back long form experience,” he added.
Battista told the room Time was focused on a social, short form and long form video content strategy, noting that he now believed that the number of smart TV in the US had reached a critical mass.
“By 2018 it is estimated that there will be (in the US) over 200m connected TVs in the marketplace,” he said. “Not to mention the huge penetration around digital devices.
“At the same time we have continued to hear how the OTT marketplace is a compelling advertising medium for a variety of reasons.
“We are thrilled today to launch the People Entertainment Network, a free ad funded OTT service featuring original programming from two of the biggest media brands in the world.”
Time Inc. like many publishers at the New Fronts in New York signalled it was investing in virtual reality announcing Life VR, which offers virtual reality experiences on both iOS and Android devices from across the company’s publications including Time, People and Sports Illustrated.
“Throughout its history, Life has been a lens through which to see deeper into the world around us,” said Nancy Gibbs, editor of Time, who oversees the Life brand. “This breakthrough in technology now invites our audience not just to observe but to experience the stories we are telling.”
Time also signalled it will launch a new digital media brand “Meet the New Famous” from People and Entertainment Weekly which will be dedicated to those made famous by social media.
The company said the brand, which will formally be launched later this year, will be a video-only brand dedicated to covering digital stars on YouTube, Vine, Snapchat and other platforms.
The new brand will “cover the lives and work of the popular digital talents of Youtube, Snapchat, Vine, Instagram and more,” the company said in a statement.
“Together, these programming and technology initiatives underscore Time Inc.’s strategy to create premium video content in all formats to be distributed across traditional channels as well as new platforms that are redefining media consumption.”
Nic Christensen in New York
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