Its appears to sound like that but its a whole broadcasting platform like free to air TV like channel 7, where various formats of video are ingested, transcoded and ads can be inserted, various play-out formats created for different devices, and importantly the analytics are gathered and retained by the operator, not Youtube.
Youtube monetises your videos on Youtube and keeps all the analytics but here the operator retains control of that part of their business. Some companies stream via Facebook and Youtube but lose control of the user experience and analytics as Facebook and Youtube will insert ads, stream whatever quality without regard etc.
Subscription paying audiences expect a better service than that. Apple TV has its own ecosystem but not everyone wants Apple IOS based services and their catalogue is what Apple holds in inventory so its good but not open standards, and yes the new 4K etc formats etc the whole broadcasting industry is moving towards.
IOT Price at posting:
4.3¢ Sentiment: Hold Disclosure: Held