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Facebook cofounder Andrew McCollum has launched a new $16-per-month streaming service called Philo, which gives people access to TV channels.

SALT LAKE CITY — There’s a new streaming TV service in town, and it’s named after a Utahn.

Facebook cofounder Andrew McCollum has launched a new $16-per-month streaming service called Philo, which gives people access to TV channels, according to NBC News.

The app, which gives people access to 35 different channels from networks like AMC, Discovery and Viacom, is cheaper than most bundle streaming services, which cost around $35 to $40.

The app is named after Philo Farnsworth, a name many Utahns will recognize as the man who invented all-electronic television.

As many Utah historians know, Farnsworth was born in a small farm community outside of Beaver. He invented the image dissector camera, which made it possible to put images on television screens.

His success eventually led to him being put on a postage stamp in 1983.

“Philo T. Farnsworth changed the way people all over the world talk to each other, learn about things, and entertain themselves,” according to the Utah Division of State History website. “His invention made 'Sesame Street,' news programs, sitcoms, dramas and all the other television programs possible.”

Farnsworth also apparently served as inspiration for this new streaming app.

McCollum said he joined the Philo project because he “wanted to do something where I could own the vision.”

The program will compete with other streaming services like Hulu, YouTube and DirecTV Now.

The new service will include a trends platform, which will direct customers to shows and content that are being watched across the country.

"Philo has a very interesting model that our research showed has a real chance of being adopted due to low price points," McCollum said.

The app won’t be too far away from Farnsworth’s original vision of television. As his wife, Pem Farnsworth, said in an interview with byhigh.org, Philo originally "saw television as a marvelous teaching tool. There would be no excuse of illiteracy. Parents could learn along with their children. News and sporting events could be seen as they were happening."