Six of the biggest media companies in Japan are to launch a new video platform. It will be specifically targeted at smartphone users.
Called Premium Platform Japan, the new venture will launch in July and begin pay-streaming services in April of next year. Content will include dramas and variety shows from the companies’ libraries, sports and live concerts. There are also plans to produce original content, including 4K shows.
Partner companies putting up an estimated $72 million of start up capital are broadcaster TBS, with a leading 31.5% stake, newspaper publisher (Nikkei 17%), TV Tokyo (15%), and Wowow (15%). Ad agencies Dentsu and Hakuhodo also respectively have 15% and 7% stakes.