Alibaba, Hollywood Studios Are Among Those Pouring $1 Billion Into a Mobile-Video Startup [WSJ]

Alibaba, Hollywood Studios Are Among Those Pouring $1 Billion Into a Mobile-Video Startup [WSJ]

By Benjamin Din

August 7, 2018 |Alibaba Group Holding Ltd. and the six major Hollywood studios are participants in a $1 billion fundraising round for NewTV, the  mobile-video startup started by entertainment veteran Jeffrey Katzenberg. The goal is to create an app-based subscription service featuring high-quality programming specifically created for mobile devices—usually in chunks 10 minutes or less. NewTV’s launch is tentatively scheduled for late 2019.

Read more on The Wall Street Journal.