🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Discovery to launch live and on-demand cooking classes via new streaming app

Published 09/25/2019, 11:04 AM
Updated 09/25/2019, 11:06 AM
© Reuters.  Discovery to launch live and on-demand cooking classes via new streaming app
DIS
-
AMZN
-
NFLX
-

By Helen Coster

(Reuters) - While Netflix Inc (NASDAQ:NFLX), Walt Disney (NYSE:DIS) Co and other media companies battle for control of the living room, Discovery Inc is doubling down on the kitchen.

Discovery on Wednesday said it was launching a new service in October, Food Network Kitchen, that will offer live and on-demand cooking classes on a Food Network streaming app in the United States.

The service, which will feature Food Network chefs such as Bobby Flay and Rachael Ray, will have a free, ad-supported version and an ad-free subscription service costing $7 per month or $60 per year.

The service is part of Discovery’s strategy to target viewers who are passionate about specific subjects like food, nature and home -- rather than go after the widest possible audience and compete head-on with other streaming video platforms.

“Those are general entertainment services and they’re never going to have enough content,” said Discovery Chief Executive Office David Zaslav. “They’re fighting over that pie. This is not an entertainment product.”

Discovery struck a partnership with Amazon.com Inc (NASDAQ:AMZN), which built Food Network Kitchen into its Fire TV streaming device, and Alexa voice service and will be marketing the app on its website.

Zaslav, who described the app as a “Peloton of food” -- referring to the stationary bike exercise company that offers live and on-demand classes -- said Discovery pitched Amazon on the service over a year ago. The head of Discovery’s direct-to-consumer business, Peter Faricy, ran Amazon Marketplace before joining Discovery last September.

Discovery plans to publish lists of ingredients that viewers will need for each class, and make them available to order on Amazon Fresh, Peapod and Instacart. The company will take a cut of the sale of those ingredients, and eventually from the sale of higher-margin cooking equipment.

The app is part of Discovery’s estimated $300 million to $400 million 2019 investment in direct-to-consumer services, which includes four other subscription video platforms that stream automotive, sports and other programing.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.