Andre Yoskowitz
13 Oct 2009 12:44
Struggling Internet TV startup company ZillionTV, has laid off about one-third of its workforce this week, another blow to the company which recently announced it was delaying the launch of the service until the Q3 2010, despite full backing by the Hollywood studios.
"As a result of our expanded go-to-market market strategy announced last month, the company has realigned its resources to support this growth," ZillionTV senior vice president of global marketing Liz Davidoff noted.
The company has been reported as having 100 employees, meaning likely around 30 were recently fired.
ZillionTV is backed by Walt Disney, 20th Century Fox Television, NBC Universal, Sony and Warner Bros and the business model revolves around ISPs offering VOD services, with up to 15,000 movies that are ad-supported. Hardware for the service will be free but users will have to pay a one-time $100 USD activation fee.