According to Variety, a channel insider has said the service will launch later this year and will feature shows like First Wives Club, an upcoming series based on the 1996 movie, and original content from Tyler Perry.

The streaming service will not only include content from the BET channel but also from other channels owned by parent company Viacom. There's no word on pricing yet, nor on what platforms the service will be available on.

It's the latest contender in a proliferation of streaming services, with Disney set to launch its Disney+ streaming service later this year and Apple's streaming service TV channels coming in the fall. That's in addition to Netflix, Hulu, Amazon and HBO's popular offerings.