Comcast Corporation is readying a new online video service platform that is intended to compete with user-generated multimedia websites like YouTube and DailyMotion, according to a report.
The Information’s Amir Efrati reported last week that Comcast will create a standalone online video portal with short-form content that could help the company expand its programming beyond pay television.
The project has been in the works for more than a year, Efrati said. Comcast only recently decided to move forward with the project following its decision to drop its proposed merger with rival pay television platform Time Warner Cable. Comcast initially told regulators it had no plans to compete with online video when it sought approval to merge with Time Warner Cable. Comcast abandoned its merger attempt last month in the face of possible regulatory hurdles.
It is unclear if Comcast would charge for access to the video service or if it will be supported by advertisements. Efrati reported Comcast could still scrap plans to launch the service if it shifts priorities toward new acquisitions or other products.
The Information: Comcast readies challenger to YouTube
