Lions Gate Entertainment, the studio behind "Hunger Games," will start a subscription video service with Tribeca Enterprises, becoming the latest traditional producers to put their films online.
Tribeca Short List will offer Lionsgate and Tribeca movies starting in the first half of 2015 for an undisclosed subscription price, the companies said today in a statement. Lions Gate, based in Santa Monica, California, and New York-based Tribeca, known for the film festival founded by Robert De Niro, will contribute titles and seek movies from around the world.
With Tribeca Short List, the partners join film and TV companies such as Time Warner Inc.'s HBO and CBS Corp. in going after viewers who don't always have cable TV. HBO said last week its HBO Go mobile product will be available without a cable account, and CBS said it will sell a $5.99-a-month package of programming. This effort is focused on movie buffs.
"The launch of the Tribeca Short List service unites two powerful brands and underscores our commitment to collaborate with blue-chip partners around the world," Lions Gate Chief Executive Officer Jon Feltheimer in a statement. "The Tribeca name resonates with movie aficionados everywhere."
Video-content consumption patterns increasingly skew to online or digital streaming formats, wrote David Peterson, director of Fitch Ratings, in a report last week.
The new service will be based in New York and be led by a general manager and a board of directors from Lionsgate and Tribeca.
It will be "a highly curated experience that disrupts the 'more-is-more' model in today's streaming on-demand landscape," said Jane Rosenthal, CEO of Tribeca Enterprises, in the statement.
~ Bloomberg News ~