NewTV

NewTV is the company founded by the former head of Hewlett Packard Enterprise Mag Uitmen and the being chairman of the board of directors of Walt Disney Studios Jeffrey Katzenberg. NewTV represents the service offering video content for mobile devices.

The feature of the project is that 10-minute shows will be offered users. At the same time the startup is not going to create own content, and intends to cooperate with traditional producers. Creation of such short shows will be cost by about $125 thousand that is more expensive than production of rollers on YouTube, but is much cheaper, for example, than episodes of series on Netflix or HBO. The budget on creation of one season for NewTV makes $5 million.

By August 7, 2018 it is known that access to NewTV will be offered on a two-level subscription as at Hulu service, however quotations are not called.

By the beginning of August, 2018 the number of staff of NewTV is less than 10 people, and to the 2021st the staff increase up to 200-300 employees is planned.

History

2018: Attraction of $1 billion investments from Alibaba and Disney

On August 7, 2018 it was officially announced an investment of $1 billion in NewTV company. Among investors there were Disney, Alibaba and several large Hollywood studios. Before full start of service in NewTV are going to collect about $2 billion.

The NewTV project was started how the Internet companies try to be fixed in a new segment of video content which in the near future will become an important point of growth and can accelerate even more outflow of the audience from normal television channels.

The video service based by the former head of HPE Mag Uitmen attracted $1 billion from Disney and Alibaba

Thanks to NewTV we  will provide to consumers the comfortable platform created for mobile devices which will provide the best content created by the best world talents  — said the cofounder and the CEO of the company Mag Uitmen.[1]

Notes