We spoke too soon. Just yesterday we reported the streaming video on demand market is getting crowded with the addition of Fullscreen, a subscription service targeting 13-to-30 year olds. On the heels of that news, The Verge reported that actor/comedienne Kevin Hart is partnering with entertainment company Lionsgate to create a new comedy streaming channel, Laugh Out Loud.
Similar to Seeso, the first comedy-focused over-the-top TV subscription service, Laugh Out Loud will feature original content, including a series starring Hart as an undercover driver for Lyft who plays pranks on his customers, said The Verge.
“Lionsgate has always been a great partner of mine, and I’m more than excited to take our business and creative relationship to new levels,” said Hart in a statement. “I understand the direction in which the television business is headed, and I see this big new space toward which audiences are starting to gravitate. I believe that launching this venture together now puts us ahead of the pack.”
Lionsgate is no stranger to subscription streaming video on demand services. Laugh Out Loud will be its third venture in the OTT world. Its first was Tribeca Shortlist, a premium OTT service that offers a high-quality collection of films hand-picked by popular actors, directors, insiders and influencers. Tribeca Shortlist debuted in October 2015. Its second is Comic-Con HQ which will launch on May 7.
Jeff Clanagan, Hart’s business partner for the last 10 years, will serve as CEO of Laugh Out Loud.
“The Kevin Hart brand speaks for itself, and his combination of creative brilliance and financial acumen position Laugh Out Loud and his social game to continue expanding his global fan base while introducing his comedic genius to a whole new online audience,” Clanagan said.
Details about the proposed launch date, subscription pricing and content offerings have not yet been disclosed.
Insider Take:
Wow. Another SVOD service. The OTT space is where everyone wants to be these days, and the marketplace is quickly becoming saturated. Services like Netflix, Hulu and Amazon Prime reach a broad audience, while comedy-based services like Seeso and Laugh Out Loud reach niche audiences, but how many subscription video on demand services do we need? How quickly will people abandon their pricey cable packages for an a la carte selection of subscription video services?
Don’t get us wrong. We love the innovation and passion creators have for providing unique entertainment to large audiences, but can the marketplace sustain so many players? At what point do potential subscribers balk because they have too many choices? The list of SVOD entrants is already in the double digits and, at this rate, will soon hit triple digits.
With so many streaming video services to choose from, some of these players won’t make it. The market will weed out those who don’t have enough subscribers to cover the high cost of licensing existing content, producing original content, and growth. Those who succeed will have to offer completely flawless and unique subscription streaming video services at an affordable price point to attract enough subscribers to be sustainable.
Will Kevin Hart’s Laugh Out Loud stand out from the crowd? We don’t know enough about the service yet to speculate, but we’ll follow the service’s launch and report our findings. Stay tuned!
