News Formal

'We're different': Cheddar founder Jon Steinberg says ignoring conventional wisdom led him to a $200 million cash exit to cable company Altice USA

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

The deal stands out amid a lot of gloom and doom surrounding digital media and is a validation of ad-supported media when others are pivoting to subscriptions.

Jon Steinberg grew Cheddar, which just sold to Altice USA for a healthy $200 million, by betting on the rise of ad-supported live streaming TV.

"It's a great result for the digital video world," said Peter Csathy, founder and chairman of media consulting firm Creatv Media."It underscores the importance of live streaming. Live streaming is now front and center for media companies and the brands that support them. The level of engagement is deeper than on-demand streaming. This is the audience the brands and advertisers want to reach. And it's news for millennials, by millennials.

Other digital media startups saw their businesses tank when Facebook ended live video funding and distribution for media companies. The rise in streaming and other distribution services helped Cheddar recover from the loss of Facebook video funding.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cable TV company Altice USA is buying the streaming-news network Cheddar for $200 millionThe video-news startup founded by former BuzzFeed executive Jon Steinberg agreed to be acquired by telecom Altice USA for $200 million, the companies announced on Tuesday.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Henry Bloch, co-founder of tax company H&R Block, dies at 96Henry Bloch, who helped found tax preparation giant H&R Block, died Tuesday at age 96, the company announced. Awesome
Source: CNBC - 🏆 12. / 72 Read more »

Blackwater Founder Erik Prince’s New Company Is Operating In IraqFrontier Services Group has not publicly stated it is working in Iraq, but documents obtained by BuzzFeed News show it was registered there last year. Wow, killing for dollars, and evidently, any old 'Blood Money' will do!
Source: BuzzFeed - 🏆 730. / 51 Read more »

Wall Street Expects Tesla Q1 Loss; Awaits Word On Company's Cash PositionTesla prepares to report earnings after a quarter full of mixed messages and volatile stock price action. It's true about the volatility. SandHillInsight
Source: Forbes - 🏆 394. / 53 Read more »