Verizon Communications Inc.

Verizon Communications Inc. (NYSE:VZ)’s Push For Disengagement Of Traditional Cable TV To Streaming Services

Verizon Communications Inc. (NYSE:VZ) has been trying to keep up with the competition battle from its rival distributors like DIRECTV (NASDAQ:DTV) and DISH Network Corp (NASDAQ:DISH). However, the telecommunication giant has now attained another level of success, which comes with the impending launch of a nationwide streaming TV service. Reliable sources indicate that the new service, which is expected to have an inclusive of dozens of channels will be streaming this summer.

The news first reported by Bloomberg reveal that the wireless carrier has been in tow of buying streaming rights from television network owners.

But will the live online platform from any of Verizon’s existing distribution platforms?

Verizon, which is the US number one wireless carrier currently, operates Fios bundle and the go90 streaming service. However, the company says that its new platform will not take any similarities to what it already offers. Instead, it is looking at offering something competitive to Dish Network’s Sling.

Nonetheless, its prices will likely be close to those of DirecTV Now, which costs $35 to $70 per month. Sling TV, which has cheaper rates of $20 to $40 per month.

It is clear that Verizon streaming service would be a full-on competitor to its rivals

Verizon is yet to comment on its latest move but there are all indications that it is ready to face its rivals. The fact that its new service will be available even to people who don’t subscribe to its services widens the company’s scope of success.

The field of internet-based, streamlined services is becoming crowded by the day. It is worth nothing that YouTube and Hulu will also be having their entries later in the year as well as Sony’s PlayStation Vue. Word has it that Comcast could also be coming up with an internet TV service to add to its existing footprint.

All these new moves come at a time when most customers are said to be disengaging themselves from the use the cord. Nonetheless, there is still the threat by OTT services the likes of Netflix, Inc.(NASDAQ:NFLX). Of concern is that the cable business has been charging too much for too little. Meanwhile, Verizon’s stock closed at $48.75 a decline of $0.31 or 0.63%.

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