Global scale is essential to media success and Cheddar is doing this with no incremental cost.
Cheddar is launching in Europe through the French streaming startup Molotov in January. Molotov is similar to services like Sling that stream live TV channels to any device, though Cheddar is the first OTT-only channel it will carry, according to TechCrunch.
The European launch is part of a larger expansion strategy Cheddar CEO Jon Steinberg laid out at the Interactive Advertising Bureau’s video symposium, which was held last week.
Cheddar has been running brand-sponsored shows and brand integrations — those sponsored segments will still air on Molotov, and Cheddar is keeping the money. Cheddar plans to generate $11 million in revenue this year.The company, founded by American entrepreneur Jon Steinberg in January 2016, started broadcasting just as Facebook begin to embrace live content. Since then, Cheddar has signed distribution deals with a variety of partners including SlingTV, Amazon, Philo, Twitter, Pluto TV, 60 percent of smart TVs in the U.S., Vimeo and Facebook. It has raised over $30 million and covers tech, finance.
Cheddar also plans to launch original shows for some platforms in 2018, potentially including Linkedin.