The announcement comes after Cheddar scored a distribution deal with Google’s YouTube TV, which is carrying both the main Cheddar network and the new Cheddar Big News general-news feed.
Cheddar, which targets a millennial-skewing, money-minded audience with live market updates and programming patterned on a format established CNBC, will be available in Hulu’s $40-per-month live TV subscription package starting later this month. Under the pact, Hulu also will provide on-demand access to select Cheddar original shows and a library of content and daily news briefs.
“Both Hulu and Cheddar are reinventing TV. We are thrilled to partner with Hulu and to bring our news to its 17 million subscribers,” said Jon Steinberg, founder and CEO of Cheddar.
According to Hulu, its live TV customers watched more than 24 million hours of news in the first quarter of 2018. “We’re happy to partner with a post-cable millennial-focused network like Cheddar to pack even more value into our live offering and give our younger viewers access to a greater, more diverse selection of live news options,” commented Tim Connolly, Hulu’s senior VP, head of partnerships and distribution.
Hulu offers subscribers instant access to stream more than 75,000 episodes of TV shows and original series — which it claims it more than double the tonnage of Netflix or Amazon Prime Video.
Cheddar has raised $54 million to date, from investors including Raine Group, John Malone’s Liberty Global, Goldman Sachs, AT&T, Amazon and Comcast Ventures.