Viacom (NASDAQ:VIAB)(NASDAQ:VIA) and Sony Corporation (NYSE:SNE) today announced a landmark agreement for Sony’s forthcoming cloud-based TV service to carry 22 Viacom networks at launch. The deal marks Viacom’s first-ever agreement to provide its networks for an Internet-based live TV and video on demand service.
“Viacom always strives to create transformational opportunities that combine consumer value and technological innovation,” said Philippe Dauman, President and CEO, Viacom. “Given our young, tech-savvy audiences, our networks are essential for any new distribution platform, and we’re excited to be among the many programmers that will help power Sony’s new service and advance a new era for television.”
“Our new cloud-based TV service will combine the live TV content people love most about cable with the dynamic experience they have come to expect from our network,” said Andrew House, Group Executive, Network Entertainment Business, Sony Corporation. “Viacom’s award-winning networks are a perfect match for our new service, ensuring that our customers will be able to access the shows they love on their favorite devices, when and how they choose.”
The partnership unites Sony’s rapidly growing network and more than 75 million Internet-enabled Sony devices in U.S. living rooms with Viacom’s content portfolio, all of which have deep connections with today’s young adults. Viacom owns and operates the largest basic cable portfolio in the United States by audience share, including 25.9% share of basic cable viewership among young people aged 2 to 34*.
Sony’s cloud-based TV service will offer subscribers Internet-based live TV and video on demand from major programmers, including the following content from Viacom:
- At least 22 Viacom linear networks at launch, including BET, CMT, Comedy Central, MTV, MTV2, Nickelodeon, Nick Jr., Nicktoons, Spike, TV Land and VH1, BET Gospel, Centric, Logo, CMT Pure Country, MTV Hits, MTV James, mtvU, Palladia, TeenNick, Vh1 Classic and Vh1 Soul and all available HD.
- Authenticated access to hundreds of hours of programming on Viacom’s TV Everywhere websites and apps. Viacom currently offers TV Everywhere apps from Nickelodeon, MTV, Comedy Central, BET, VH1, CMT and Logo.
- Viacom’s full video-on-demand package.
Additional terms of the agreement were not disclosed.
Sony will announce more details about its new cloud-based TV service in the near future.
*Nielsen Media Research, July 2014
Viacom is home to premier global media brands that create compelling television programs, motion pictures, short-form video, apps, games, consumer products, social media and other entertainment content for audiences in more than 160 countries and territories. Viacom's media networks, including MTV, VH1, CMT, Logo, BET, CENTRIC, Nickelodeon, Nick Jr., TeenNick, Nicktoons, Nick at Nite, Comedy Central, TV Land, SPIKE, Channel 5 (UK), Tr3s, Paramount Channel and VIVA, reach approximately 700 million television subscribers worldwide. Paramount Pictures, America's oldest film studio, is a major global producer and distributor of filmed entertainment.
Sony Network Entertainment International
Sony Network Entertainment International LLC (SNEI), a subsidiary of Sony Corporation of America, is the premier provider of digital entertainment. Through the Sony Entertainment Network portal, consumers around the world are able to access their favorite digital entertainment conveniently and instantly on their favorite connected devices. SNEI offers the latest and highest quality music, video, and game content through Sony Entertainment Network as well as PlayStation Network while also delivering third-party services. In addition, SNEI provides a compelling consumer experience through innovative content discovery features and a simple user interface that is globally consistent, yet locally relevant.