Verizon Signs AwesomenessTV, DreamWorks for Streaming Video Service

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Characters from DreamWorks Animation's
Characters from DreamWorks Animation's
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Verizon Communications has struck a deal to carry more than 200 hours of mobile-TV programming annually for teens and young adults from DreamWorks Animation SKG, part of the phone company's drive to develop a web-based streaming video service.

Under the multiyear deal, the AwesomenessTV channel on Verizon's service will make scripted and unscripted shows, the companies said Wednesday in a statement. The family oriented DreamWorksTV will feature live action and animated short-form content, as well as some of DreamWorks Animation's best-known characters. Financial terms weren't given.

The accord for original video programming reflects the growing importance of young audiences to wireless carriers, such as New York-based Verizon. AwesomenessTV, majority owned by DreamWorks Animation, is a top producer of shows for Google's YouTube.

"It's increasingly clear that mobile first is the way millennials are consuming all types of content, especially HD video and music," Terry Denson, Verizon's vice president of content acquisition and strategy, said in the statement.

All sorts of media companies, meanwhile, are moving into streaming video subscription services as a way to capture consumers, often millennials, who don't want to pay for a complete cable or satellite bundle.

The service will only be available in the U.S., the companies said.

~ Bloomberg News ~