It's not related in the sense that it's set in the same universe as the show, but it's certainly aiming for maximum synergy. They have the show's cast (inclusing Conner, Red Hood, Hawk and Dove) and they seem to be ignoring the current status of the Titans in the regular books.
I think this is pretty much like the Wallmart Titans stories. Continuity-vague series that are targeted for new readers (which is weird in this case, because I don't see DC actually promoting this book to fans of the show).