OLD Media Moves

Cheddar CEO: Company will do $10 million in revenue this year

July 30, 2017

Posted by Chris Roush

CheddarCheddar, the digital business news channel for millennials, will have $10 million in revenue this year, said CEO and founder Jonathan Steinberg in an interview with Roben Farzad on “Full Disclosure.”

Steinberg noted that Cheddar, which is less than two years old, still has north of $26 million in the bank, and that it is profitable some months. It’s aiming for younger viewers while the average viewer of CNBC is 67 and the average viewer of Fox Business is 69.

“Something is going to have to change,” said Steinberg.

This year, Cheddar has opened a studio in Los Angeles and struck a deal to provide business news segments for local television stations. It recently launched a weekly show called “This Changes Things” aimed at small business. It’s also raised more than $30 million in funding since it was founded in early 2016. It broadcasts from the floor of the New York Stock Exchange.

“We don’t really talk about stocks that much unless it’s in the context of talking in the broad story, such as Chipotle,” said Steinberg. “We don’t have a bunch of guys around a table talking about whether Cisco or GE is a buy.”

Cheddar will have nearly 80 million views on Facebook this month, said Steinberg, and it’s also available on Sling TV, a pay service. Viewers can also subscribe to Cheddar on Amazon and also watch it on Twitter.

To listen to the interview, go here.

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