Turner Networks has made its anticipated move into subscription video-on-demand (SVOD) streaming, announcing a new service, launched in partnership with the Criterion Collection, aimed at film buffs.
The ad-free platform FilmStruck is slated to launch in the U.S. in the fall with a yet-disclosed monthly price point. The service will be managed by Turner Classic Movies (TCM) and feature both contemporary and classic films, as well as art house, indie, foreign and cult movies.
The SVOD platform will pull programming from the Criterion Collection, a longtime prestige supplier of award-winning films to the home entertainment market. FilmStruck will now be the exclusive streaming outlet for Criterion and will include the dedicated Criterion Channel, which will be curated by Criterion Collection staffers.
Specific titles announced for the new service include Seven Samurai, A Hard Day's Night, A Room With a View, Blood Simple, My Life As a Dog, Mad Max, Breaker Morant and The Player.
A Turner rep told FierceCable a monthly price will be announced in the next few months, but FilmStruck "will be competitively priced to other streaming movie services in the marketplace."
The platform is a manifestation of new strategy announced last year by Jeff Bewkes, CEO of Turner parent Time Warner Inc., who told investors that the conglomerate is steering away from licensing content to Netflix and developing its own streaming assets. It seemed like a savvy decision, given that Netflix's market cap is approaching the size of Time Warner.
Last month, Turner Chairman and CEO John Martin told investors they can expect his division to launch more than one SVOD service by the end of this year.
"At Turner, we are dedicated to engaging fans wherever they are, and we're investing aggressively in content, new capabilities and new businesses to achieve that goal," Martin said. "FilmStruck is a terrific example of our strategy to meet consumer demand for great content across all screens. It's tailor-made for the diehard movie enthusiast who craves a deep, intimate experience with independent, foreign, and art house films. And it takes advantage of TCM's powerful curation capabilities, as well as its proven track record in building a long-term relationship with passionate film fans."
- read this Turner Networks press release
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