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Report: Viacom Will Stream BET Network

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Report: Viacom Will Stream BET Network

Viacom, Inc. (NASDAQ: VIAB) could be the latest company to enter the streaming war space, sources close to the matter told The Wall Street Journal.

What Happened

Viacom could launch its BET network at a price point higher than the $2.99 a month it charges for the preschool-focused Noggin service, WSJ said. The platform could be titled BET+ and include original movies and TV shows created by Tyler Perry.

Perry has already signed a five-year production deal with Viacom and the producer and actor could also become a stakeholder in BET+, according to WSJ.

Why It's Important

Viacom is looking to target the African-American audience after executives observed favorable consumption trends among the demographic group, WSJ wrote. The target market watches more live TV on average than other groups and also consume more TV shows and movies on streaming platforms.

"This really suggests quite a significant opportunity to complement the services that are out there," the source told WSJ. "This is not about replacing a Netflix or replacing a Hulu or replacing an Amazon."

BET+ could be made available on iOS and Android phones along with other streaming platforms. Original content could also be made exclusive for the platform for 18 months and then may run on the core BET cable channel.

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Posted-In: BET streaming video Tyler Perry Wall Street JournalNews Tech Media Best of Benzinga

 

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