Six of Japan's largest media companies are set to launch a new video platform specifically targeted at smartphone users.
The new service will be called "Premium Platform Japan" and will launch in July and begin pay-streaming services in April of 2018.
Partner companies putting up an estimated $72 million of start up capital are broadcaster TBS, with a leading 31.5% stake, Nikkei, TV Tokyo, Wowow, and Ad agencies Dentsu and Hakuhodo.
Currently, the audience for SVOD in Japan is still fragmented among a number of services. According to a November 2016 survey of the most popular VOD services in Japan, conducted by Trend Lab and Rakuten, homegrown internet TV company AbemaTV was the most popular VOD service, mentioned by 41% of VOD viewers. Foreign-import video services Amazon Prime Video and Hulu ranked second and third, with shares of 26% and 17%, respectively.