It took awhile, but the 3net channel bankrolled by Sony (NYSE: SNE), Discovery (Nasdaq: DISCA), and IMAX (Nasdaq: IMAX) is finally hitting the air.
DirecTV (NYSE: DTV) will begin broadcasting the high-def 3-D channel on Sunday, according to The New York Post.
The channel took time to get off the ground. The 3net trio was originally introduced 13 months ago. The plan to be the country's first 24/7 channel to go exclusively with 3-D seemed bold at the time. Those plans seemed in doubt after 3-D televisions weren't last year's holiday darlings.
Consumer electronics bellwether Best Buy (NYSE: BBY) suffered its sharpest single-day drop in years after posting fiscal third-quarter results two months ago. Revenue, earnings, and same-store sales all dipped. Obviously it takes more than a lack of 3-D TV sales to make a retailing giant like Best Buy buckle, but this was supposed to be the innovation that breathed new life into the home theater.
Are folks just not interested in 3-D the way they are at the corner multiplex? 3-D outfitter RealD (NYSE: RLD) has quickly helped exhibitors open 11,300 screens for 3-D flicks. IMAX is also able to tack on a hefty premium for 3-D screenings on top of its existing cinematic markup.
Is it the cumbersome and costly glasses? The original battery-powered specs didn't seem to woo too many converts.
Are folks just waiting for the playing field to settle before diving in? This could be the case. Toshiba demoed a high-end solution back in October that doesn't require 3-D glasses. Consumers may be waiting for technology to settle given the quick rate of innovation.
The uncertainty in the marketplace challenged 3net. It made a big splash during last month's Consumer Electronics Show. It fleshed out its programming of native 3-D content that will include classic IMAX documentaries, but it had no cable or satellite television provider on board. DirecTV is helping it nail down the final mile.
Will a cable provider follow suit? Discovery obviously has working relationships with all of the leading providers, but that hasn't been enough to this point. Lackluster sales of 3-D televisions has made this channel a hard sell, but at least having the country's leading satellite television provider -- one with a healthy reach in Latin America to boot -- validates 3net.
Discovery, IMAX, and Sony will take this, but the bigger push -- the success of 3-D televisions for consumers -- is out of their control.
Do you own a 3-D TV? Why? Why not? Please share your perspective in the comment box below.
