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Here’s why Altice USA just dropped $200 million on streaming video start-up Cheddar

By May 7, 2019No Comments
Some serious cheddar: Altice bought financial news start-up Cheddar for $200M.

What is Cheddar? Cheddar is a “Post-Cable Network” that broadcasts live from the New York Stock Exchange and is often referred to as “CNBC for millennials”. They are primarily distributed outside of the cable bundle (over-the-top) but have recently struck interesting distribution deals with traditional pay-TV carriers.

Cheddar revenue by year (YoY growth):
1) 2018 — $25M
2) 2019P — $50M (↑ 100%)

Key details for Cheddar:
1) Launched in 2016
2) Available in 40M pay-TV households
3) $54M in venture capital raised

Quote from Dexter Goei — CEO @ Altice:
“What I really care about is Jon being able to do better with our existing businesses and create original content… This is about maximizing underinvested and underutilized assets at Altice USA.”

Video: Altice USA CEO on growth, cord-cutting, competition

More: Altice USA Buys Streaming-Video Network Cheddar for $200 Million

Michael Beach

Michael Beach

Michael Beach is the Chief Executive Officer of Cross Screen Media, a media analytics and software company that enables marketers to plan, activate, and measure CTV and linear TV at the local level. Michael is also the founder and editor of State of the Screens, a weekly newsletter focused on video advertising that is a must-read for thought leaders in the advertising industry. He has appeared in such publications as PBS Frontline, The Wall Street Journal, The New York Times, Axios, CNBC and Bloomberg, and on NPR’s Planet Money podcast.