|Genre||Business & finance|
Number of locations
|Services|| streaming media |
|Revenue||$11.3 million (2017 )|
Number of employees
Cheddar Inc. is a live streaming financial news network founded by Jon Steinberg in the United States. Cheddar broadcasts live daily from the floor of the New York Stock Exchange (NYSE), NASDAQ, the Flatiron Building in New York City, and the White House lawn and briefing room in Washington, D.C.covering new products, technologies, and services.
Business channels are TV channels that concentrate on business news.
Jon Steinberg is the former President and COO of website BuzzFeed. In early 2016, he founded Cheddar Inc., a new media company covering tech news and culture, and serves as its CEO. In September 2016, Cheddar received $10 million in funding from Comcast and other investors.
The New York Stock Exchange is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018. The average daily trading value was approximately US$169 billion in 2013. The NYSE trading floor is located at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007. The main building and the 11 Wall Street building were designated National Historic Landmarks in 1978.
Cheddar targets millennials by streaming one to two hours of live content from the NYSE trading floor daily, streaming live audio on iHeartRadio, and distributing the videos on video platforms such as Amazon Prime, the Cheddar app, Facebook live, Sling TV, Pluto TV, and YouTube.
Millennials, also known as Generation Y, are the demographic cohort following Generation X and preceding Generation Z. Researchers and popular media use the early 1980s as starting birth years and the mid-1990s to early 2000s as ending birth years, with 1981 to 1996 a widely accepted definition. Millennials are sometimes referred to as "echo boomers" due to a major surge in birth rates in the 1980s and 1990s, and because millennials are often the children of the baby boomers. The characteristics of millennials vary by region and by individual, and the group experiences a variety of social and economic conditions, but they are generally marked by their coming of age in the Information Age, and are comfortable in their usage of digital technologies and social media.
iHeartRadio is a free broadcast, podcast and streaming radio platform owned by iHeartMedia, Inc. It was founded in April 2008. As of 2019, iHeartRadio functions as the national umbrella brand for iHeartMedia's radio network aggregating its over 850 local iHeartMedia radio stations across the United States, as well as hundreds of other stations from various other media. In addition, the service includes more than 250,000 podcasts, offers a Music recommender system and on demand functionality and is the only service that allows listeners to save and replay songs right from live broadcast radio to their digital playlists. The on-demand features require a subscription fee. iHeartRadio is available across more than 250 platforms and 2,000 devices including smart speakers, digital auto dashes, tablets, wearables, smartphones, virtual assistants, TVs and gaming consoles.
Amazon Prime is a paid subscription service offered by Amazon that gives users access to services that would otherwise be unavailable, or cost extra, to the typical Amazon customer. This includes free two-day delivery, Two hour delivery for a fee through Prime Now, streaming music and video, and other benefits. In April 2018, Amazon reported that Prime had more than 100 million subscribers worldwide.
According to Steinberg, Cheddar received 148 million views in August 2017 across all of its platforms.On Facebook, 60 percent of Cheddar's viewers are under the age of 35. Accordingly, the daily live shows have been described as "quasi-CNBC for millennials".
CNBC is an American pay television business news channel that is owned by NBCUniversal Broadcast, Cable, Sports and News, a division of NBCUniversal, with both being ultimately owned by Comcast. Headquartered in Englewood Cliffs, New Jersey, the network primarily carries business day coverage of U.S. and international financial markets; following the end of the business day and on non-trading days, CNBC primarily carries financial and business-themed documentaries and reality shows.
Reportage focuses on stocks and technology. The channel is ad-free; expected revenue comes from carriage agreements with streaming services.Advertising comprises either program underwriting or semi-weekly brand integration. Brand integration advertising costs $100,000 per year.
Cheddar has two feeds, a paid-for and a free version. The pay feed broadcasts eight hours of programming a day, six of them live, and is available via Amazon Prime, PlayStation Vue, Sling TV, YouTubeTV, and the Cheddar app. The free feed broadcasts three hours of new content daily and archived content is available through Facebook and over the air via its affiliated stations.In April 2017, the channel had 100,000 viewers.
PlayStation Vue is an American over-the-top (OTT) Internet television service that is owned by the Sony Interactive Entertainment subdivision of the Sony Corporation of America division of Sony. Launching with a limited major-market rollout on March 18, 2015, the service – which is structured in the style of a multichannel video programming distributor – combines live TV, on-demand video, and cloud-based DVR to stream television programs, movies, and sporting events directly to a PlayStation console or other supported device – including smart TVs, digital media players and apps – without a subscription to a cable or satellite television provider. Targeting cord cutters, PlayStation Vue is designed to complement subscription video-on-demand services. As of September 2018, the service had approximately 745,000 subscribers.
Sling Television, commonly known as Sling TV, is an American over-the-top internet television service owned by Dish Network. Unveiled on January 5, 2015, at the Consumer Electronics Show, the virtual multichannel video programming distributor aims to complement subscription video on demand services for cord cutters, offering a selection of major cable channels and OTT-originated services that can be streamed through smart TVs, digital media players and apps. The service is available in the United States and Puerto Rico as of 2015.
On April 30, 2019, it was announced that Cheddar agreed to be bought by the cable company Altice USA for $200 million in cash.
Altice USA, Inc. is an American cable television provider/multiple system operator with headquarters in New York City, with broadband, pay television, telephone services, Wi-Fi hotspot access, proprietary content and advertising services to approximately 4.9 million residential and business customers in 21 states.
Jon Steinberg, former president of BuzzFeed and former CEO of Daily Mail North America , conceived of the concept after leaving Daily Mail in 2015. 's founder, Bryan Goldberg, came up with the name Cheddar.He considered naming the channel company "Ticker" until Bustle
Steinberg founded Cheddar in early 2016 and hired Peter Gorenstein, a senior producer at Yahoo!, as the channel's chief content officer in January 2016. In September 2017, Cheddar hired Anjali Kumar, former Warby Parker executive and Google lawyer, as its first general counsel and chief people officer.
In the company's first financing round in January 2016, it raised nearly $3 million, primarily from Snapchat and Lightspeed's Jeremy Liew, and additional funds from WGI Group, Homebrew, Jerry Speyer, and David Fiszel.
Cheddar began streaming in April 2016then on April 11 on Facebook Live with one hour of programming at 9:30 am. Cheddar initially streamed all videos for free, but in May 2016, the company launched a subscription video-on-demand service. Smaller clips continue to be released, but full-length videos are exclusive to subscribers. On May 23, 2016, SirusXM began carrying Cheddar on a channel.
Cheddar raised $10 million in funding on September 6, 2016, all of which was an equity deal from Lightspeed Venture Partners, Comcast Ventures, and Ribbit Capital.Cheddar used the money to increase programming and set up a new studio in Santa Monica, California, becoming the company's fifth studio.
The channel teamed with Bustle to launch its afternoon Extra Sharp show on May 18, 2016.Melissa Rosenthal, a former BuzzFeed executive, was hired in May 2016 as creative development and partnership executive. Five half-hour shows ("Wheels" - automobiles, Points on Point - smart spending, Your Future Home - real estate, Your Cheddar - personal finance, and Cheddar Trading - roundtable discussion on trading) were developed by November 2016, when they were going to shop them to find underwriting. In September 2016, Twitter made a deal with Cheddar to broadcast its daily coverage, with the stated purpose of giving the Twitter community another way to watch and discuss the news live on one platform.
In January 2017, Vanity Fair's Hive business news and Condé Nast Entertainment partnered with Cheddar to create a live weekly series called VF Hive on Cheddar. Graydon Cartern, a Vanity Fair editor, called the series a "representation of how people are consuming more voraciously than ever."
Propagate Content in March 2017 partnered with Cheddar to produce a weekly 45-minute show for international markets. Propagate also became Cheddar's international sales representative.The company purchased StockStream, a Twitch hosted crowd-sourcing investment decision website, from the creator Mike Roberts in July 2017. Also in 2017, Cheddar purchased Need2Know newsletter.
On August 5, 2017, Cheddar opened its second New York studio at the Flatiron Building, in Manhattan. At the time, the channel had 100,000 viewers. The Flatiron studio was built for its Cheddar Life series.
In April 2017, Cheddar started broadcasting on digital UHF stations in five markets and rents the broadcast spectrum from DTV America. Dunkin’ Donuts, a Cheddar advertiser, was handing out free digital antennas at events in the stations' markets, to publicize the over the air launch.
Cheddar announced $19 million in its third round of financing in May 2017, which was led by Raine Ventures along with investors: AT&T, Amazon, Altice USA, NYSE, Lorne Michael's Broadway Video, and some existing investors. To date, the company has raised $32.1 million and has a valuation of $85 million.Cheddar also hired Ross Cooperman, former head of engineering at Knowme Systems, as its chief technology officer.
Cheddar partnered with Univision's Fusion Media Group in June 2017 to air on their Fusion TV cable television every weekday afternoon for two hours. The programming will be available for cable users on DISH, DirecTV, AT&T U-Verse, Verizon Fios, and Charter Communications.Cheddar reports it is on 60 percent of smart TVs throughout the US.
In July 2017, Cheddar partnered with Seeking Alpha to produce an "Idea of the Month" segment.The partnership was extended in early 2018.
KXTV started airing segments on July 27, 2017 from Cheddar during its morning and afternoon news programming as a test for a planned rollout in the Tegna TV station group.These segments were rollout by August to seven News 12 Network cable channels, owned by Altice, then to a handful of additional Tegna stations and WPIX 11. These segments are called Cheddar Local.
On July 27, 2017 the channel was added to the Haystack TV news aggregator app, which is on mobile and OTT platforms.In September 2017, Cheddar announced its deal with Layer3 TV, an IP-based MVPD, and plans to open a broadcast studio in the UK by 2018.
Cheddar in January 2017 launched a 24-hour linear feed on Twitch, the gaming and video platform owned by Amazon.On March 15, 2018, Cheddar announced its new TV show called Crypto Craze about cryptocurrency, which is a thirty-minute show focusing on cryptocurrency trading. Cheddar was one of two news channels on Philo OTT Internet TV MVPD at its November 14, 2017 launch.
In January 2018, Cheddar partnered with MightyHive to extend select client ad campaigns programmatically.
In March 2018, the company announced its plan to expand internationally and launch two channels, Cheddar Big News (CBN) and a channel on Snapchat Discover after securing its fourth investment round, raising $22 million. The funding round was led by Raine Ventures along with Liberty Global, Goldman Sachs, Antenna Group, 7 Global Capital, Dentsu Ventures, Jeffrey Sprecher, and Kelly Loeffler. As of this investment round, the company is valued at $160 million. Big Cheddar News is a general news streaming channel which launched on April 17.The Snapchat Discover channel, also targeted for an April debut, is to be a general and business news channel.
In April 2018, Cheddar announced its plan to air its live linear network on Hulu. The move comes after Cheddar's deal to bring its news channels to YouTube TV and a month after launching its Snapchat channel.
In May 2018, Cheddar acquired Viacom's MTV Networks on Campus to show its latest channel CheddarU , which will stream content from its flagship financial-news streaming service and segments from Cheddar Big News to 9 million students on more than 600 campuses. Universities that qualify, can receive the CheddarU service for free. CheddarU is part of the ChedNet division of Cheddar, which focuses on installing more screens and broadcasting its service in gyms, hotels, airport lounges, restaurants, bars, among others.In June 2018, Cheddar added another distribution outlet via a carriage deal with virtual MVPD fuboTV, an OTT TV service focused on sports programming. GSTV, Gas Station TV, began running 20 second Cheddar segments in September 2018.
Cheddar bought RateMyProfessors.com and its app in October 2018 from Viacom.In October 2018, the company announced its programming will air for 30 minutes every weeknight on CUNY TV, the independent station by the City University of New York.
In January 2019, Cheddar renamed their two channels to Cheddar Business and Cheddar News and were hiring for a news room.On February 4, 2019, Cheddar launched of "Cheddar Nights" programming block, which will air acquired shows, Out of Tune game show and Entrepreneur Elevator Pitch along with the TV show Nathan for You .
On April 30, 2019, Cheddar announced an agreement to be bought by the cable company Altice USA for $200 million in cash. Altice purchase Cheddar to bolster its news. When the deal closes, Jon Steinberg would become Altice News president overseeing Cheddar plus Altice USA's News 12 Networks and i24 News.
Weather forecasts are provided by The Weather Company through its Local Now brand, as part of a content-sharing agreement between Cheddar and The Weather Company.
From 2017 to 2019, Cheddar had a brokered programming agreement with five stations owned by DTV America Corporation to carry the channel over-the-air. As of May 2019, that agreement has expired.
|City of license/market||Station||channel||Primary|
(on main channel)
|Date of affiliation|
|Cleveland-Akron||WQDI-LD||20.2||Estrella TV||DTV America||April 2017|
ESPN is a U.S.-based pay television sports channel owned by ESPN Inc., owned jointly by The Walt Disney Company (80%) and Hearst Communications (20%). The company was founded in 1979 by Bill Rasmussen along with his son Scott Rasmussen and Ed Egan.
The second and current incarnation of Viacom Inc., is an American multinational mass media conglomerate with interests primarily in film and television, which was formed as a spin-off of the original Viacom on December 31, 2005. It is one of two companies which succeeded the original Viacom, alongside CBS Corporation; both are owned by National Amusements, a theater company controlled by billionaire Sumner Redstone. The spin-off was structured so that CBS Corporation would be the legal successor to the old Viacom, with the new Viacom being an entirely new company.
NBCUniversal Media, LLC, d/b/a NBCUniversal, is an American worldwide mass media conglomerate owned by Comcast and headquartered at Rockefeller Plaza's Comcast Building in Midtown Manhattan, New York City. It is one of two successor companies to MCA Inc., the other being Vivendi through its subsidiary Universal Music Group.
NBCUniversal Television Group is the common name for NBCUniversal Broadcast, Cable, Sports and News and NBC Entertainment, both American television units of NBCUniversal.
Hulu is a U.S.-based subscription video on demand service fully controlled and majority-owned by Walt Disney Direct-to-Consumer & International, a business segment of The Walt Disney Company, with Comcast's NBCUniversal as an equity stakeholder owning 33%.
Fox Business Network is an American pay television business news channel that is owned by the Fox News Group division of Fox Corporation. The network discusses business and financial news. Day-to-day operations are run by Kevin Magee, executive vice president of Fox News; Neil Cavuto manages content and business news coverage. As of February 2015, Fox Business Network is available to approximately 74,224,000 pay television households in the United States.
The News 12 Networks are a group of regional cable news television channels in the New York metropolitan area that are owned by Altice USA. All channels provide rolling news coverage 24-hours a day, focusing primarily on regions of the metro area outside Manhattan, Queens, and Staten Island.
Court TV is a current digital broadcast network and former American cable television channel. It was originally launched in 1991 with a focus on crime-themed programs such as true crime documentary series, legal dramas, and coverage of prominent criminal cases. In 2008, the original cable channel became TruTV. The channel relaunched on May 8, 2019 as a digital broadcast television network that is owned by Katz Broadcasting, a subsidiary of the E. W. Scripps Company.
YouTube TV is an American over-the-top internet television service that offers live TV, on demand video and cloud-based DVR from more than 70 television networks. It is owned by YouTube, a subsidiary of Google. YouTube TV's line up includes major U.S. networks such as ABC, CBS, NBC, Fox, FX, AMC, CNN, TBS, Discovery, and ESPN.
Cable news channels are television channels devoted to television news broadcasts, with the name deriving from the proliferation of such networks during the 1980s with the advent of cable television. In the United States, early networks included CNN in 1980, Financial News Network (FNN) in 1981 and CNN2 in 1982. CNBC was created in 1989, taking control of FNN in 1991. Through the 1990s and beyond, the cable news industry continued to grow, with the establishment of several other networks, including, Fox News Channel (FNC), MSNBC, and specialty channels such as Bloomberg Television, Fox Business Network, and ESPN News. More recent additions to the cable news business have been CBSN, Newsmax TV, TheBlaze, Fusion, One America News Network, part-time news network RFD-TV, and—for a time—Al Jazeera America.
Epix is an American premium cable and satellite television network that is owned by Metro-Goldwyn-Mayer. The channel's programming consists of recent and older theatrically released motion pictures, original series, documentaries, and music and comedy specials.
Snapchat is a multimedia messaging app used globally, created by Evan Spiegel, Bobby Murphy, and Reggie Brown, former students at Stanford University, and developed by Snap Inc., originally Snapchat Inc.
Buzzr is an American digital multicast television network that is owned by Fremantle North America, a unit of the Fremantle subsidiary of RTL Group. The network serves as an outlet for the extensive library of classic game shows owned by Fremantle. Buzzr marks Fremantle's entry into North American television broadcasting; parent company RTL currently operates numerous TV channels in Europe.
Pluto TV is an Internet-based TV platform owned by Viacom. The company was founded in 2013 and is based in Los Angeles, California.
Local Now is an American news/information and weather-oriented subscription television network that is owned by The Weather Group, LLC, a subsidiary of Entertainment Studios. A spinoff of The Weather Channel intended for subscribers of over-the-top multichannel video programming distributors, Local Now cycles the latest news and information that's dedicated to the local area.
Universal Kids is an American pay television channel aimed at children aged 6-14. It is owned by the NBCUniversal Cable Entertainment Group division of NBCUniversal, a subsidiary of Comcast. The channel was launched on September 26, 2005.
ACC Network (ACCN) is an American subscription-television channel that is owned and operated by ESPN Inc. Announced on July 21, 2016, it is dedicated to coverage of the Atlantic Coast Conference, and launched on August 22, 2019. The channel operates from ESPN's headquarters in Bristol, Connecticut, though some programming and staff will be based in Charlotte, North Carolina.
MTVU is an American digital cable television network owned by the Viacom Global Entertainment Group, a unit of the Viacom Media Networks division of Viacom. The channel was first known as VH1 Uno from 2000 to 2004 before changing names when Viacom expanded MTVU programming beyond more than 750 college and university campuses across the United States, as part of internally originated cable systems that are a part of on-campus housing or college closed-circuit television systems to digital cable in all homes. In 2018, the MTV Networks on Campus group was sold by Viacom to Cheddar to launch CheddarU, but the digital cable channel remained to the public through digital cable. Music videos played on the channel primarily consist of indie rock, pop punk and hip-hop along with limited original programming. MTVU also formerly owned RateMyProfessors.com.