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Verizon Communications ( VZ ) aims to expand its ad-supported Go90 mobile video service to multiple video streaming platforms starting by mid-2016, say sell-side analysts briefed at a meeting on Monday. Verizon’s analyst meeting came after Verizon reported Q1 revenue on April 21 that missed estimates . On Monday, Verizon executives discussed a broad range of market opportunities, including offering 5G wireless broadband services by 2020. Verizon has not disclosed how many subscribers it has for Go90, which targets millennials (ages 18 to 34) and Gen Zers (teens). Verizon launched the Go90 service in September. Verizon plans to “extend Go90 from a mobile app to a multiscreen platform in an attempt to drive scale and distribution of advertising from Verizon’s owned content,” said Paul de Sa, an analyst at Bernstein Research, in a report. Go90 provides a mix of original Web TV series, live sports, concert streaming, prime-time TV and more. “By midyear, Go90 will leverage (Verizon-owned) AOL and be available on multiple platforms,” said Macquarie analyst Amy Yong in a research report. Verizon management told analysts that the company plans to expand its digital media strategy with or without Web portal Yahoo ( YHOO ). Verizon, which acquired AOL for $4.4 billion in 2015, has stated its interest in buying part or all of Yahoo. The Internet firm is reviewing offers from Verizon, private equity firms and other entities. By acquiring AOL, Verizon gained both online content and advertising technology . With AOL’s “programmatic” ad technology, Verizon aims to provide advertisers with tools to target users with the most relevant ads based on anonymous subscriber data. Verizon last year also snapped up online ad firm Millennial Media for a reported $250 million. Alphabet ’s ( GOOGL ) Google and Facebook ( FB ) now reap the lion’s share of mobile advertising revenue. Verizon says that the mobile ad market is growing fast, providing room for many companies to grow, and that it doesn’t need Google’s scale to succeed. Verizon told analysts that it does need to “out-google Google,” said Colby Synesael, a Cowen & Co. analyst, in a report. Verizon has around 100 million wireless phone subscribers to target, Synesael said. Scalper1 News
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