Business news video service Cheddar has raised $10 million to launch a full eight-hour day of live programming.
Patience Haggin of The Wall Street Journal writes, “An online subscription video service, Cheddar produces a daily business broadcast from the trading floor of the New York Stock Exchange and a daily lifestyle show.
“‘I want to take all these formats that have worked for an older generation and youthen them up in terms of the content and the style and the talent,’ explained Mr. Steinberg, the founder and chief executive of Cheddar, who also anchors broadcasts. ‘I would put our live show Cheddar Life up against the Today Show.’
“Cheddar launched this spring with free videos broadcast on YouTube and Facebook. In May the company put its full shows out under a subscription of $6.99 per month, using the video streaming service Vimeo. It still offers some video free on Facebook Live.
“Mr. Steinberg said he is open to seeing it sold in ‘bundles’ by cable channels or other media providers in the future. ‘I want us to be in all of these paid places. I want to be very judicious about what we’re giving away free,’ he said.”
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