Viacom is the latest cable company to cut the cord (at least partially), or in industry lingo, to go “over the top” and offer direct-to-consumer streaming, according to Reuters. While the regular Nickoledon will still function as a cable company, Viacom CEO Philippe Dauman said some of its kid-oriented offerings will be available through a streaming service, but Dauman did not reveal the name of the new company or give further details, but said more information would be unveiled in February.
During a conference, Dauman said, “We believe this innovative service, which will have a distinct brand and will target the fast-growing mobile market, will be very attractive for parents and children.”
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Time Warner made the move to streaming recently, with direct-to-consumer initiatives for HBO and CBS. Viacom, which also owns Paramount Pictures, MTV and Comedy Central, reported earnings that were in-line, but soft revenues. Ad revenues have declined and ratings are down, and the streaming service is presumably one measure the company is taking to remedy the situation.
The new Nickelodeon service might face another disadvantage, because of regulations geared toward viewers who are minors. The FTC requires websites to secure parental consent from children under 13.