QuickPlay, a video streaming platform, has been acquired by AT&T to boost its video streaming services to take on Netflix and Amazon. The tech company revealed the news on May 17, Yesterday, but the terms of the deal are still undisclosed.
AT&T has taken the powerful video streaming platform Quickplay under its wings to lead the premium video streaming services like currently offered by Netflix and Amazon, Business Wire reported. The next generation video streaming medium will take AT&T TV services everywhere and to every device.
Video streaming capable Quickplay will enhance already ravishing offers of AT&T U-verse TV streaming service. Additionally, the tech giant will also integrate the new video streaming platform into its upcoming offers like DIRECTV Now, DIRECTV Mobile and DIRECTV Preview.
The company had been aligning its interest in video streaming with a slow but clever decisions, including the $48.5 billion invested in acquiring DIRECTV in 2015. While Netflix and Amazon TV streaming services are formidable contenders, AT&T has now become the largest pay TV service provider worldwide.
Subscribers of AT&T video streaming service will cherish DIRECTV streams with additional perks of no annual contract, satellite dish or set-top box. So Amazon and Netflix are not the only competitors, Dish TV's Sling TV, ComCast's Stream, Sony's Vue, and Hulu's upcoming TV services in 2017 also make contestants for the video streaming market.
While the terms of the deal are not disclosed as of yet, but AT&T did say that Quickplay's working staff, which is comprised of 350 employees, will continue to work with the new employer. Besides, Quickplay has drifted through so many owning company's removing the employees would not make sense.
Previously, the high-speed video streaming technology was owned by Toronto's Madison Dearborn Partners. Quickplay has also ventured with Verizon, HOOQ, Sony Pictures, Warner Bros, Singtel Group, and Qualcomm's FLO TV.
"Quickplay's multitenant IP distribution infrastructure, combined with AT&T's leading scale in IP connected end points, will allow us to host and distribute all forms of video traffic," Business Wire quoted founder and CEO of the AT&T Entertainment Group John Stankey as saying. He also added that the company is scaling to become a leading video streaming platform.
AT&T's decision to buy Quickplay comes to happen in a time when pay TV monsters like Netflix and Amazon are already replacing cable and satellite based video streaming with the internet, TechCrunch pointed out. The following video introduces Quickplay Media in an official YouTube video.