WhereverTV outlines plan to become world's first global TV service provider
Editor | 19-02-2014
Subscription over-the-top (OTT) services provider WhereverTV has revealed its plan to use the next year to sign additional content licences with broadcasters, launch a US online TV service and begin a major subscription drive.
WhereverTV expects to launch its US service with approximately 80 television channels and 40 audio channels. It believes it finally has enough compelling content available to launch a US service aimed at the 110 million existing cable and satellite households looking to lower their cable bills, as well as the more than 40 million consumers of recorded OTT subscription services offered by Netflix, Hulu and others. To date, the company has agreed to terms with more than 50 US television networks and is in active discussions with others.
The company delivers video services to a variety of devices — including connected TVs, streaming media players, smartphones and tablets such as GoogleTV, AppleTV, Roku, Boxee, iPhone, iPad, iPod Touch and Android smartphones — and says that it will fuel its ambitions by raising working capital. It has already announced its intent to file necessary documentation with the Securities and Exchange Commission (SEC) to become a fully reporting company. The preparation of financials, the completion of the audit and the filing of necessary documentation with the SEC is targeted for the end of March 2014.
"We want to demonstrate that we value our shareholders and stakeholders and feel that the up-listing effort and a fully reporting status conveys our commitment to regulatory compliance, full disclosure and shareholder value," explained CEO Mark Cavicchia. "The timing to launch a live-streaming OTT US service couldn't be better ... With Netflix's 38 million subscribers and the Aereo decision headed to the Supreme Court this April, we believe a legally agreed over-the-top subscription service will be well received by US consumers. The ability to incorporate over-the-top services with traditional pay-television services is something consumers are not only learning to enjoy, but are starting to expect from their on-screen programme guides. WhereverTV's Global IPG is the ideal solution to this growing desire."
As far as global ambitions are concerned, the company also continues to expand its international subscription offerings and is eying up the near 170 million pay-TV subscription households in Western Europe. It aims to establish a foothold in the region by partnering with an established OTT platform provider or streaming media OEM with a substantial number of devices already in consumers' homes.