Verizon Communications Inc. and Hearst Corp. created a joint venture to develop programming for millennials who watch video on their mobile devices.
Verizon Hearst Media Partners will begin this spring with two channels — RatedRed.com, which will feature lifestyle content aimed at young people who live in the “heartland,” and Seriously.TV, a comedic news network, the companies said in a statement. Financial terms weren’t disclosed.
The channels will be distributed across Verizon’s mobile video service, go90, among other platforms, according to the statement.
The venture brings together two companies that have been investing in digital outlets experimenting with new formats as the media business evolves. Verizon, the nation’s largest wireless carrier, started go90, a free mobile video service with content aimed at teens and millennials that uses AOL’s ad-insertion technology. Hearst, the closely held publisher of Cosmopolitan and Esquire magazines which owns stakes in the cable-TV networks ESPN and A+E, has invested in digital brands including Vice Media, AwesomenessTV and BuzzFeed.
“It’s the dawn of a new era of video brands for the next generation of viewers,” Neeraj Khemlani, co-president of Hearst Entertainment & Syndication, said in the statement.
The channels’ introduction are timed to coincide with NewFronts, an annual event for advertisers and media buyers, according to the statement.
Subscribe Today to Mobile Strategies 360 and Receive Exclusive Data. Not only will you get the latest information on the rapidly changing mobile industry, you will also receive Mobile Market Insights a free monthly overview on the market. These fact sheets are filled with data and statistics to help you identify opportunities and get a jump on the competition. Mobile Market Insights is available only to Mobile Strategies 360 subscribers. Once you enter your free subscription, click on the link for your free download.Favorite