Following months of rumors, Fullscreen has let the cat of the bag—it's launching its own subscription service.
Though Fullscreen had been working on the service, simply called Fullscreen, for months, this is the first time the multichannel network has publicly talked about it. In a blog post announcing the service, CEO George Strompolos said the goal was to "bridge the gap between social media and television for youth audiences."
Fullscreen did not provide much detail about the upcoming service and made no mention of price or a potential launch date—though it likely won't happen until next year. The company did not say if the paid service will include ads, but it is expected that branded content will be a part of the platform. (The company recently acquired McBeard, a social media content studio that supports major brands across platforms.)
Fullscreen did say the subscription product would feature series exclusive to the platform—including Grace Helbig and Hannah Hart's upcoming reboot of Sid and Marty Krofft's Electra Woman and Dyna Girl—and would also look to develop other formats like podcasts and editorial content. Fullscreen will also house documentaries The Outfield and #O2LForever and the upcoming Paul Scheer-Jonathan Stern teen parody series.
The announcement comes at a time when content creators, especially multichannel networks, are looking for greater ownership and control of their content. Fullscreen's videos running across YouTube, Vine, Snapchat, Instagram and Periscope. Aside from an additional revenue stream, Fullscreen's new service could put it in direct competition with YouTube—Fullscreen is one of the largest multichannel networks on the platform—which is launching its own subscription-based product.
Fullscreen is not looking to compete with big-time SVOD services like Netflix, Amazon or Hulu but instead is looking to monetize the younger viewers it already has. "This will not be for everyone," Strompolos said. "We're building something special for a very specific audience—a community of viewers who grew up online and live on their mobile devices."
Fullscreen produces videos that reach 600 million subscribers, who generate more than 5 billion video views a month, and has a large talent network of more than 70,000 creators it can tap into for the new streaming service. Some of the better-known creators working with Fullscreen currently include Grace Helbig, The Fine Bros., filmmaker Devin SuperTramp, Andrea Russett and Jack and Jack.
The Chernin Group and AT&T's Otter Media purchased a majority stake in the company last year.