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That's the dilemma for the growing ranks of providers, now pegged by Parks Associates at around 200 in the U.S. alone. Just last week, AT&T said it will introduce a service with HBO and other fare from its recent Time Warner purchase, while Hollywood mogul Jeffrey Katzenberg revealed details of his upcoming offer for high-end, short-form video. They'll debut late next year—about when Walt Disney Co.'s new online channel launches.