Verizon Communications Inc. And Vice Media Strike A ‘Deal’ For A New Video Streaming Service

Verizon Communications and Vice Media have signed a deal, under which Verizon will be licensed travel, food and tech programming as it prepares to unveil its mobile video service. Verizon would utilize Vice’s content and will also create its own exclusive content. The deal is expected to help Verizon in attracting the youth, something that remains a top priority for the carrier.

The presence of Vice is also a plus point for Verizon, as Vice is known for its success among the youth. Verizon recently acquired America Online to improve its advertising feature for mobile video services. Vice has also signed a few deals with companies such as HBO and Spotify, along with other deals in Asia, Europe, and Latin America.

Mobile users are increasing at a much faster pace than one can expect, and this is why companies are coming up with their service plans to watch mobile videos rather than opting for monthly cable subscriptions. The new service by Verizon would be much different as it won’t require a person to be a Verizon customer, instead it will offer free content supported by ads.

Verizon’s VP content, Terry Denson said: “Vice is connecting with an entire generation in a way that no one else is and Verizon will connect consumers to Vice in a way that no one else does by combining Vice’s storytelling with the most compelling mobile video platform,”. Meanwhile, Vice co-president, James Schwab also gave a statement in which he said that the deal will help Vice Media to reach millions of mobile users throughout the US. Both companies feel that with such deals, they can continue to lead innovation in the industry.

Nothing has been revealed yet about the financial terms of the deal, but given the huge mobile audience, it is expected to be highly valued. We will continue to update on any new developments.

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