NEW YORK - Verizon today announced a long-term agreement with TVN Entertainment for video-on-demand programming and services. Video on demand (VOD) will be a key feature of Verizon FiOS TV service when it launches later this year.
TVN will provide Verizon with a wide range of VOD programming including new studio releases, a library of previous releases, independent movies, family and kids programming, and a broad array of free on-demand and specialty VOD networks.
Verizon FiOS TV will offer customers a competitive alternative to cable or satellite. In addition to video on demand, FiOS TV will deliver hundreds of digital channels, high-definition programming, an interactive programming guide and other customer-friendly features via the company's fiber-to-the-premises broadband network, now under construction in parts of 12 states. Customers will be able to buy FiOS TV as a stand-alone service or packaged with voice and FiOS high-speed data services, which are already available in some areas.
"FiOS TV customers will be delighted at how easy it is to choose from thousands of hours of VOD programming, thanks to TVN's extensive on-demand content portfolio and advanced platform, coupled with our fiber-to-the-premises network," said Terry Denson, vice president of marketing and programming for Verizon FiOS TV. "TVN will also help us use the extensive bandwidth of our all-fiber network to deliver new VOD services in the future."
Verizon will also use TVN's advanced services, including TVN's exclusive TVNow rapid-turnaround service that enables subscribers to order news and events, such as the presidential inauguration, within hours of their occurrence.
"Verizon, the largest telecommunications company in the U.S., is building an advanced TV platform that will showcase the extraordinary appeal of VOD," said Jim Riley, TVN executive vice president. "We are thrilled that Verizon has chosen TVN to support its aggressive entry into video service."
Terms of the agreement were not disclosed.
With more than $71 billion in annual revenues, Verizon Communications Inc. (NYSE:VZ) is one of the world's leading providers of communications services. Verizon has a diverse work force of more than 210,000 in four business units: Domestic Telecom serves customers based in 29 states with wireline telecommunications services, including broadband, nationwide long-distance and other services. Verizon Wireless owns and operates the nation's most reliable wireless network, serving 43.8 million voice and data customers across the United States. Information Services operates directory publishing businesses and provides electronic commerce services. International includes wireline and wireless operations and investments, primarily in the Americas and Europe. For more information, visit www.verizon.com.