Amazon (AMZN) has renamed IMDb TV, its free, ad-supported streaming service, to Freevee to distinguish it from IMDb.com, its online movie, and TV directory. The company said that its new name emphasizes that it is a simple-to-use streaming service that is free to users. It is a lot more memorable than a bunch of letters, and it does exactly what it says on the tin: it's free!
Freevee plans to expand its catalog by 70% this year, with scripted original TV shows and movies in current production. The service made an Advertising-based Video On Demand (AVOD) first by acquiring an exclusive network window for films from Universal Filmed Entertainment Group's 2020-21 theatrical slate through a licensing deal with NBCU.
AVOD is a paradigm in which viewers "pay" by watching free material that is financed by commercials. The money is entirely derived from the sale of advertisements on videos, just as it is in broadcast television. YouTube, Roku, Pluto TV, and Dailymotion are examples of AVOD platforms.
Why it matters
IMDb TV/Freevee has outperformed its AVOD competitors and according to Amazon, IMDb TV viewing has increased by 138% in 2021 over the previous year. The company said that users spend an average of 5.5 hours per week watching the service.
