Cheddar TV, the streaming TV network for millennials, is growing. Last week the company announced it is taking its tech and business news show to the airwaves. Cheddar is partnering with iHeartRadio, SiriusXM, TuneIn, Amazon Alexa and Otto Radio to share its daily show from the trading floor of the New York Stock Exchange, news segments, top clips and market updates. The new Cheddar Radio content will range from headline stories to full simulcasts of live Cheddar programming. Mashable reports that Cheddar will make money from the radio deals on its branded content and a revenue share from advertising.
iHeartRadio and TuneIn will each have a 24/7 Cheddar Radio station, and will broadcast a live simulcast each business day from 9 AM to 5 PM Eastern. SiriusXM will broadcast two daily business updates and produce a weekly hour show on Sundays at 10 AM Eastern on SiriusXM Insight. Otto Radio will stream daily segments from Cheddar, and offer clips including interviews with top business leaders and executives. According to Mashable, Cheddar is working with Twitter on two new live shows and a late-night show with NBA player Andre Iguodala.
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‘People love to listen in the car to live simulcasts of the major news networks. Now we are there. If you have internet radio or a connected car you can listen to Cheddar live,’ said Cheddar founder and CEO Jon Steinberg in the announcement. ‘We are honored to be on all the best audio platforms.’
Chris Williams, chief product officer for iHeart Radio, commented on the partnership.
‘We are excited to welcome Cheddar Radio to iHeartRadio. Cheddar’s innovative approach to covering technology, business and entertainment news rounds out our 24/7 news offering lineup. Our listeners are going to love the simulcast live from the trading floor,’ said Williams.
‘As we continue to offer the best audio experience for listeners across the country and the world, we are extremely excited to add Cheddar Radio as a partner,’ said Kevin Straley, Chief Content Officer at TuneIn. ‘The addition of the 24/7 live stream of Cheddar Radio elevates our already stellar news offering. Jon Steinberg and his team have built up a great following and we look forward to growing with them with this partnership.’
Cheddar launched in early 2016 as a video news network for millennials with both live and on-demand broadcasts from the floor of the New York Stock Exchange and other sites. Cheddar primarily covers business, technology and innovation. Recent stories include the launch of Samsung Note 8, inside Uber’s finances, and the shake-up at Macy’s.
At launch, Cheddar TV was free, but it transitioned to a subscription model in May 2016. It is currently priced at $2.99 a month, or $29.99 per year, with the first month free. Cheddar offers some clips for free, so viewers can sample their content before subscribing. In addition to its new partnerships with radio and Amazon Alexa, Cheddar is available on Twitter, Sling TV, Amazon.com, Vimeo, Facebook, Pluto TV or directly through Apple TV, iPhone, Android and Roku.
Cheddar was most recently in the subscription news in May 2017 when the company announced it had raised $19 million in its third round of funding, led by Raine Ventures. Additional investors include AT&T, Amazon, Altice USA, Homebrew, the New York Stock Exchange, Broadway Video, Lightspeed Venture Partners, Comcast Ventures and Ribbit Capital. At that time, the company was valued at about $85 million.
I am not a millennial, but I love what Cheddar is doing. It is taking top tech and business news and presenting it live in an engaging way, attracting millennials and others with its signature style. Flush with capital to fund its growth, Cheddar is taking advantage of that opportunity by creating additional content and now partnering with radio. Not only does this get Cheddar’s content in front of new audiences, but it will make the content even more accessible to its subscribers, essentially making it ‘sticky’ which could increase retention. Cheddar is not just reporting on innovation, it is using innovation to its advantage with new and exciting ideas and partnerships. Pretty sharp, don’t you think?