With $40M Investment, Great Big Story Eyes OTT and Skinny Bundles
Great Big Story got a great big gift from parent company CNN.
Video site Great Big Story was created by CNN in October 2015 as a way to attract younger viewers with an eclectic mix of human-centered stories from around the globe. The idea was to create an online video studio that could rival Vice and BuzzFeed. It operates independently, but is completely funded by CNN.
Today, Great Big Story (GBS) is ready to blast off to its next destination, and CNN is again providing the fuel to get it there. CNN made a second round investment of $40 million, which GBS will use to create an always-on streaming network for distribution on over-the-top (OTT) services, skinny bundles, and other digital offerings.
Look for the network to launch a year from now, sometime in the summer of 2018. It will feature live video, as well as a mix of long-form and non-scripted videos, some of which will be acquired. It will broadcast around the clock.
Soon after launch, GBS will hold Great Big Weekend, a weekend-long festival celebrating stories of film, music, food, and exploration. The company hasn't announced where the celebration will take place or any additional details.
GBS has its headquarters in New York City, with offices in London and Stockholm.
Great Big Story creates short-form curiosities, then distributes them to a young adult audience on a variety of platforms.
The games of summer continue. With the London Olympics now over, the streaming world turns its eyes to the upcoming Republican and Democratic conventions.
Despite a few quirks, the network's new broadband video service is a news junkie's dream.
by Tim Siglin
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