Wednesday, 23 April 2014 07:16

AT&T in $500 million Netflix rival Featured

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AT&T, the world’s largest telco, is joining US content company The Chernin Group (TCG) in a US$500 million venture to build a video streaming service in the US to rival Netflix.

“Consumers are increasingly viewing video content on their phones, tablets, computers, game consoles and connected TVs on mobile and broadband networks," TCG said in a statement announcing the alliance. "AT&T's massive reach on those platforms across mobile and broadband and their commitment to the online video space make them the perfect fit for this venture with us."

TCG is an interesting choice of partner. The ‘global next-generation media and entertainment platform’ was started in 2009 by former Fox executive Peter Chernin. TCG’s first feature film was Rise of the Planet of the Apes, and has since released box office winners Parental Guidance, Oblivion, and The Heat.

It was also an investor in social media site Tumblr, which was sold last year to Yahoo for US$1.1 billion. TCH was an investor in online TV service Huly and in December acquired streaming site Crunchyroll, which specialises in Japanese anime content.

”A critical part of TCG’s strategy has been our significant focus on the online video industry, and joining forces with AT&T only further underscores our strategic commitment in this area as operators, investors and programmers,” Peter Chernin said.


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Graeme Philipson

Graeme Philipson is senior associate editor at iTWire. He is one of Australia’s longest serving and most experienced IT journalists. He is author of the only definitive history of the Australian IT industry, ‘A Vision Splendid: The History of Australian Computing.’

He has been in the high tech industry for more than 30 years, most of that time as a market researcher, analyst and journalist. He was founding editor of MIS magazine, and is a former editor of Computerworld Australia. He was a research director for Gartner Asia Pacific and research manager for the Yankee Group Australia. He was a long time weekly IT columnist in The Age and The Sydney Morning Herald, and is a recipient of the Kester Award for lifetime achievement in IT journalism.

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