Social media is evolving. Are you adapting? Connect with a community of brand pros and content creators at Social Media Week, May 12–14 in NYC, to learn how to keep pace with new trends and technology. Register now to save 20% on your pass.
NBC News Group is planning to launch a video-centric subscription product in the fourth quarter, according to NBCUniversal News Group chairman Cesar Conde.
The forthcoming platform, which Conde mentioned on stage at Semafor’s Innovating to Restore Trust in News Summit on Feb. 27, does not have a name or price point. But it will be a mobile-first platform featuring short- and long-form video, as well as original video programming and podcasts from across the NBC News Group.
“We’re in the process of developing a mobile-first platform, laser-focused on premium journalistic video, in all its shapes and forms,” Conde said. “When you look at the trends and habits of audiences, it’s clear that more and more audiences are gravitating to consume their news and information in video.”
The NBC News Group includes the franchise programs Meet the Press, Nightly News, Dateline, and Today, as well as digital offerings like the NBC News website, Telemundo, and 44 local television stations.
The platform will feature video from all of those sources, as well as video programming produced exclusively for the platform.
While users will need a subscription to watch video on the platform, some of the content will be available to watch for free on other channels. Much of the programming will showcase hard news reporting, but there will also be lifestyle content, such as entertainment coverage from Telemundo and true crime.
The subscription platform is not a paywall for the NBC News website, according to Conde.
“This is additive to what we do,” he said. “We’re going to continue to make our best journalism free and ad-supported, but in addition to that we think there’s an opportunity to provide a premium experience for subscription.”
The news media company has previously introduced subscription tiers for popular franchises, including CNBC’s Pro product and Today’s Start Today product. CNBC Pro costs $34.99 per month and $299 per year, while Start Today costs $9.99 per month and $65.99 per year.
The introduction of a subscription product for NBC’s News Group is part of a broader trend of revenue diversification across the media industry.
The Daily Mail launched its first paywall last week, and other publishers, including Vice, The Verge, and HuffPost have all introduced paid tiers in recent months. The moves come as news publishers continue to face headwinds in the digital advertising market, including a shifting privacy landscape and dwindling social and search traffic.