Verizon is set to release a new Internet-based television service in the first half of 2015, intending to shake up the way that cable television currently works.
The move is expected, as Verizon bought an Intel venture in January with the intention of creating the service.
"We are very focused on probably late first half of 2015 having products like this in the marketplace," said Verizon CEO, Lowell C. McAdam in speaking Sept. 11 at the Goldman Sachs Communacopia conference.
The television industry has been moving in this direction for a while now. More and more, consumers want television on demand rather than having access to channels.
"No one wants to have 300 channels on your wireless," continued McAdam. "Everyone understands it will go to a la carte. The question is, what does that transition look like."
McAdams continued to express optimism about the move, saying that it is likely that cable TV networks will embrace the changing industry and agree to offer programming for the new television service.
"It's moved from a stiff-arm to more of an embrace," he said in regard to the big four television networks. "There's no doubt in my mind we can make it a win-win. Over the last six months to a year, that dialogue is changing dramatically."
Verizon is not the only company to begin offering cloud-based television services. Sony announced on Wednesday that it had acquired the rights to carry a number of Viacom channels, including MTV and Comedy Central, for its own service.
Time Warner and CBS also recently announced that they were working toward one day offering HBO and Showtime to users over the Internet.
Signs of a change in the television industry continue to come, with many hoping that they will soon be able to do away with subscriptions to cable services altogether. Media companies are expected to lure consumers away from cable companies by offering better prices and more flexibility, allowing consumers to watch shows on any of their devices.
McAdam also mentioned that Verizon is increasingly open to selling some of its towers, provided the price offered is right.
"Those deals are coming to us a little more now, and if an opportunity presented itself to increase shareholder value," the company would follow it up, said the CEO.
While McAdam's comments are far from a guarantee that the company will shake up the television industry, they certainly do give many hope that a drastic change is on the way. Users may soon be able to watch their favorite television shows whenever they want, while saving money on cable subscriptions, courtesy of Verizon.
