Verizon confirms that a new TV streaming service is on the way

File photo: The logo of Dow Jones Industrial Average stock market index listed company Verizon is seen at a retail store in San Diego, California April 21, 2016. (REUTERS/Mike Blake)

Confirming a rumor that originally surfaced earlier this year, Verizon CEO Lowell McAdam recently said that the company plans to launch an over-the-top TV streaming service later this year. Not to be confused with Verizon's decent but relatively unpopular go90 streaming service which houses original content, Verizon's upcoming service will offer viewers something similar to a traditional cable package.

According to a report from TechCrunch, McAdam's remarks on the matter were made earlier this week during an appearance at J.P. Morgan's Global Technology, Media and Telecom Conference. With Verizon's acquisition of Yahoo expected to close next month, Verizon may launch its TV streaming service as early as July, though a later launch is likely more probable.

With so many TV streaming services, it's getting harder for any individual service to stand out. Still, TechCrunch raises an interesting strategy Verizon may ultimately implement: use content from go90 as a lure and differentiating factor relative to services like DirecTV Now.

This is actually a solid idea as there is compelling content available at go90. And while nothing on go90 has seeped into the mainstream, perhaps a larger profile on a new TV streaming service will be the extra boost needed to do so.

While additional details surrounding Verizon's upcoming TV service remain unknown, it's a safe bet that interested users won't have to be existing Verizon customers in order to hop on board. That said, pricing details have yet to be disclosed, but it's also a safe bet that Verizon will aim for a pricepoint somewhere in the $30-$40 range.