Online video portal Vimeo is adding subscription-based business, media and cultural news service Cheddar to its offering.
The deal means that Cheddar will be able to distribute its service via Vimeo, with its base of over 280 million monthly users, and build an audience with Vimeo-based mobile and TV apps.
Cheddar launched a few weeks ago, broadcasting content from the New York Stock Exchange trading floor and NASDAQ market site, and has drawn a significant audience on the Facebook Live platform.
Vimeo will mark Cheddar’s first move into subscription on-demand offerings, with a service aimed at millennial professionals in finance, venture capital, private equity, media, startups, and entertainment, according to Vimeo.
Viewers can subscribe to Cheddar for US$6.99 (€6.13) a month at Cheddar.tv or Cheddar.com. The service plans to launch iOS, tvOS-based smart TV and Roku apps over the next few days, powered by Vimeo’s OTT platform.
“Vimeo is the ideal partner for Cheddar. Everyone knows it has the best player technology on the web, a massive millennial audience, and a leadership position in subscription video on demand, with 1.2 million users who have bought content on the platform. TV channels and cable systems are over, this model is what’s next,” said Jon Steinberg, founder and CEO of Cheddar.
“The OTT industry is expanding to include a flourishing world of interest based streaming channels. Cheddar’s fresh take on financial news delivered directly through the Vimeo global streaming marketplace is a prime example of this. We’re thrilled to have Cheddar onboard with Vimeo,“ said Kerry Trainor, CEO, Vimeo.