Charter and Comcast to Launch New Streaming Platform in Joint Venture

Charter Communications and Comcast on Wednesday introduced a 50/50 three way partnership to develop a brand new streaming platform for branded 4K streaming units and sensible TVs.

Comcast will license Flex, the corporate’s aggregated streaming platform and {hardware}, to the brand new three way partnership, contribute the retail enterprise for XClass TVs in addition to Xumo, a free ad-supported streaming service acquired in 2020. Charter will make an preliminary contribution of $900 million, funded over a number of years.

The brand new platform will characteristic a whole lot of free content material choices via Xumo, which at the moment delivers greater than 200 distinctive streaming channels. Comcast’s Peacock additionally will likely be featured on the three way partnership’s streaming platform, alongside different well-liked apps.

The three way partnership, which is topic to customary closing situations, doesn’t contain the broadband or cable video companies of both Comcast or Charter — which can stay impartial.

“We’re thrilled to partner with Charter to bring this platform and its award-winning experience to millions of new customers. These products are all designed to make search and discovery across live, on-demand and streaming video seamless and incredibly simple for consumers,” Comcast Cable CEO Dave Watson stated in a press release. “This partnership uniquely brings together more than a decade of technical innovation, national scale and new opportunities to monetize our combined investment.”

Charter Chairman and CEO Tom Rutledge added: “Our new venture will bring a full-featured operating platform, new devices, and smart TVs with a robust app store providing a more streamlined and aggregated experience for the customer. As the video landscape continues to evolve, this venture will increase retail consumer options, compete at scale with established national platforms, and join our existing lineup of options for the Spectrum TV App available on most customer-owned streaming devices.”

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