Time Inc. to offer a streaming video service based on its magazines
Time Inc. is using the resources from its magazine titles to create a new streaming video service.
Called the People/Entertainment Weekly Network, the service will feature long-form pop culture, lifestyle and human interest series and specials along with live event coverage. The company, which announced the ad-supported service Thursday, is planning on a fall launch.
As print magazine advertising revenue continues to decline, Time Inc. is launching the service, which will be free for consumers, in the hope of increasing its share of marketing dollars committed to digital video. The company said ad spending on over-the-top video services is expected to reach $40 billion by the year 2020.
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