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AT&T Said to Plan Web Streaming as Primary TV Platform by 2020

AT&T Inc.’s online streaming TV service, DirecTV Now, will become the company’s primary video platform in three to five years, according to people familiar with the plans.

The largest U.S. pay-TV provider has been working for more than a year to build a video-delivery system that can carry multiple live feeds to broadband-connected homes, said the people. Such a platform would eliminate the need for a cable hookup or satellite dish in five years or less, the people said.

DirecTV Now, set to be introduced by the end of this year, will try to appeal to a national audience of so-called cord-nevers -- some 20 million households that have no cable or satellite service -- with 100-plus channels and a choice of streaming to one or two devices simultaneously.

“This is exclusively an over-the-top product,” Chief Executive Officer Randall Stephenson said at the Goldman Sachs Communacopia...