Comcast To Launch Streaming Video Service For Internet Customers

Comcast Corp said it will launch a new internet streaming video service called Xfinity Flex, as the U.S. cable operator targets TV viewers who prefer watching content online over more expensive cable TV packages.

Xfinity Flex will be available starting Tuesday only to Comcast’s internet customers and will cost $5 per month.

Xfinity Flex will allow customers to access their subscriptions to streaming services like Netflix, Hulu and Amazon Prime as well as free shows and movies that Comcast will include with the service to be supported with advertising revenue.

The launch comes days before Apple Inc is expected to launch its own TV and video service, and Walt Disney Co and AT&T Inc have said they plan to introduce direct-to-consumer streaming services this year, adding to an increasingly competitive video industry.

While Apple did not specify the focus of the event it will host on Monday, it gave a single-line description: “It’s show time.” Apple has long hinted at a planned video service, spending $2 billion to produce content. (Reporting by Sheila Dang; Editing by Cynthia.―CNBC