Versant, the entertainment business being spun out of Comcast next month, will launch a direct-to-consumer subscription service that includes live news, commentary programming and events from its cable news brand MS NOW.
The brand, known as MSNBC until last month, will offer a streaming simulcast of its cable network through the subscription service when it debuts in the summer. Versant announced the forthcoming platform during its Investor Day presentation on Thursday, but didn’t say how much the service will cost or where it will be available.
Executives positioned the new MS NOW service as a “home for progressives on digital,” and said it will include interactive content, community features and access to MS NOW events that were previously offered under the “MSNBC Live” brand.
Rebecca Kutler, the President of MS NOW, said some of its competitors, including Fox News Media, have proven that a direct-to-consumer subscription offering can work.
“They have proven that you can build a subscription model catering to super fans,” Kutler said, a nod to Fox Nation, the streaming platform launched a few years ago that offers next-day replays of Fox News programming along with knowledge-based shows and entertainment content that serves that audience. Fox Nation has more than 2 million subscribers.
As described, the forthcoming MS NOW platform will be the progressive’s answer to Fox Nation, but it won’t stop at streaming video: Kutler also pointed to the New York Times as a digital news business that has leaned into other opportunities, like gaming and recipes, to drive subscriptions over time.
“We have taken those lessons, and we are building a product that will include the best of both,” Kutler affirmed, adding that the company continues to do “consumer research” to find out what fans of their cable network might want out of a digital platform. Kutler said the summer launch is intended to take advantage of higher news interest during the midterm election cycle.
