Philo COO: Streaming Service Coming Off Best Month in Company’s History
At the OTT & Video Distribution Summit, Mike Keyserling, COO of Philo, said that the company is “coming off by far the best month in our company’s history.” According to Multichannel, Keyserling said that Philo “grew by 30% in the last eight weeks and we’re really at the most accelerating growth in our company’s history.”
Keyserling indicated that Philo isn’t seeing the same dynamic as services like AT&T TV NOW (formerly DIRECTV NOW), which has lost over a half a million subscribers over the last few quarters. “There’s been a lot documented recently about how the MVPDs are taking a pause or even reducing their size. We’re just not seeing that dynamic at all.”
In May, Philo dropped their $16 plan for new subscribers, and now offers a single $20 plan with live channels from A+E, AMC, Discovery, Hallmark, and Viacom. While Philo doesn’t offer news or sports, in comparison to services like AT&T TV NOW ($50), Hulu Live TV ($45) and YouTube TV ($50), it’s 58-channel bundle is cheap.
Keyserling feels that customers still want a cable bundle, just not for hundreds of dollars a month. So even though Disney+, HBO Max, Apple TV+, and NBCU’s streaming service will all launch within the next year, Philo thinks it’s in a unique place as an “aggregator” of premium content at an affordable price. “I don’t believe the future of TV is going to be 20 apps,” said Keyserling. But, at less than half the price at other Live TV Streaming Services, with all the content in a single app, Philo is hoping that if you have to choose one, they will be it.