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Bell bets big on streaming

Bell Canada says it's on the cusp of launching a new streaming product to attract customers who prefer to watch video such as Netflix through the Internet instead of traditional TV services.

Chief executive George Cope said the Montreal-based company will announce its plans in the next four to six weeks as it combats the trend of customers cutting or reducing their television connections.

"This industry's in an evolution towards people viewing TV in different ways over time," he told shareholders at the company's annual meeting in Ottawa.

He said Bell leads the country with TV subscriptions but Internet protocol television (IPTV) growth slowed in the first quarter as customers continued to opt for online streaming services. It added 22,000 Fibe TV customers, down from 48,000 a year ago.

Still, Cope sees opportunities to grow against cable competitors who have more than half of the TV market by expanding television and satellite services while also offering its new streaming product.

Maher Yaghi of Desjardins Capital Markets said "competitive dynamics" weighed on Bell's wireline business as it faced heavy promotions from Rogers and Videotron during the quarter.

Cope added that having powerful and fast Wi-Fi in the home will increasingly be required as consumers continually increase the number of devices they use.

"Everything is going to be plugged into the Internet and we need this speed to stay competitive and make sure the Canadian economy for business also stays competitive."

He said enhancing its so-called over-the-top (OTT) service, which includes Crave TV, would also help to enhance its wireless position.



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