Former DreamWorks CEO Jeffrey Katzenberg is talking up his startup WndrCo and what he calls New TV.
According to Deadline, Katzenberg has been offering up some details on his new venture while attending Cannes Lion. WndrCo will focus on creating shows specifically for mobile consumption that will range in runtime from 6 to 10 minutes but feature “full story arcs.”
The idea is to go after the 18 to 34 demographic with a company model that builds in incentives for all stakeholders and relies on an ad-supported service. However, Katzenberg didn’t rule out using an SVOD option as well.
WndrCo is currently shopping for distribution partners and has yet to set a date for its first series. And though it is pitching the New TV idea, the company and Katzenberg are being careful not to position this as a replacement for traditional TV, but rather as additive to the current experience.
Earlier this year, WndrCo emerged with a $600 million investment to help fund its digital media aspirations.
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As WndrCo eyes distribution partners for its mobile-centric New TV aimed at millennial audiences, it may find willing partners among the current crop of virtual MVPDs looking to differentiate in an increasingly crowded streaming field.
Verizon recently confirmed plans to launch its own vMVPD later this year and stated that it will be different than the current offerings from competitors like AT&T and Dish Network as well as YouTube TV, PlayStation Vue and Hulu’s live TV.
Marni Walden, executive vice president and president of media and telematics at Verizon, has mentioned original programming as a key component of any future Verizon streaming TV service.
“Originals are important and sports are really important. But we don’t want to do just a ‘me too’ thing out there. You’re going to see us do things in a different way. It’s definitely not about quantity though. There are some things you have to have but we’re not looking for the kitchen sink on this one,” Walden said during a recent investor conference.