Time Inc. to offer a streaming video service based on its magazines
The People/Entertainment Weekly Network will stream video of Time Inc.-sponsored events such as the Sports Illustrated swimsuit issue, which this year featured fighter and actress Ronda Rousey.
Time Inc. is using the resources from its magazine titles to create a new streaming video service.
Called the People/Entertainment Weekly Network, the service will feature long-form pop culture, lifestyle and human interest series and specials along with live event coverage. The company, which announced the ad-supported service Thursday, is planning on a fall launch.
Many of the original programs will be based on the magazines’ existing franchises such as People’s Sexiest Man Alive and EW’s Fall TV Preview. The service will also tap into the content of other Time Inc. titles including the Sports Illustrated swimsuit issue and the Time 100, using behind-the-scenes footage of photo shoots and related events.
As print magazine advertising revenue continues to decline, Time Inc. is launching the service, which will be free for consumers, in the hope of increasing its share of marketing dollars committed to digital video. The company said ad spending on over-the-top video services is expected to reach $40 billion by the year 2020.
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