Financial news outlet Cheddar can now be watched in Europe.
The media company entered into a partnership with the French startup Molotov so that the latter’s subscribers can watch Cheddar on their devices.
Erstwhile Buzzfeed president Jon Steinberg launched Cheddar early last year with $3 million in funding.
It reports on tech and financial matters.
No License Fee
Steinberg told Romain Dillet of TechCrunch that Molotov accesses the feed from Cheddar’s studios without any licensing fee.
TechCrunch, however, said Cheddar “has been running brand-sponsored shows and brand integrations and those sponsored segments will still air on Molotov, with Cheddar keeping the money.”
Cheddar is eyeing $11 million in revenue this year, TechCrunch added.
Focus on Live Video Content
Steinberg said that with Cheddar, he is out to attract “business-minded millennials.”
Unlike many media startups, Cheddar focused on live video content.
Thus, the network can be watched on Sling TV, Amazon, Philo, Twitter, Pluto TV, 60 percent of smart TVs in the U.S., Vimeo, and Facebook, according to TechCrunch.
The deal with Molotov comes just a few months after Cheddar added radio to its services.
Molotov, for its part, enjoys a similar deal with cable TV networks.
Molotov freely streams TF1’s or France 2’s live feeds, but networks in France don’t split revenue from advertisements with Molotov.
TechCrunch said Cheddar’s decision to partner with Molotov is a “smart” move.
Molotov is available on many devices in Europe and claims to have more than three million active users monthly despite having been launched just 16 months ago.
Molotov co-founder and CEO Jean-David Blanc had told TechCrunch: “Molotov isn’t television, and it isn’t Netflix. It’s like TV, but we reinvented it.”
Cheddar can now be watched in Europe after partnering with France’s Molotov company.
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