By Mari Silbey
In an astounding about-face, Verizon is abandoning plans to launch its own over-the-top live TV service, and instead says it will partner with an existing third-party OTT provider as it introduces 5G broadband in select markets later this year.
Speaking at multiple investor events over the last week, Verizon Communications Inc. executives unveiled their newest video strategy, which unravels much of what has come before. Over the years, Verizon has said it would introduce a mobile TV service, expand Fios TV as an online platform and even wholesale its IPTV portfolio to other providers aiming to launch their own consumer video applications. Now, instead of licensing out a linear video product, Verizon is cutting its losses and seeking a partner just to get on the map in the streaming TV market.