News Site Mic Looks to Cable for Video Revenue

Millennial-focused news company Mic is hoping to be picked up by cable.

The news site is in discussions with several companies that sell so-called “skinny” bundles of cable channels to offer a channel of Mic-produced videos, said people close to Mic. If successful, Mic would join Cheddar and Vice as new-media firms that have tapped the cable TV market for revenue.

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If Mic and Cheddar are successful in making their way onto the skinny bundles, and if there is indeed a market of young consumers who want to watch the channels, it could be a real threat to traditional cable channels. Many of them have been unwilling to lower their affiliate fees—and if these cable carriers balk at the prices they could choose to go with lower-price competitors that target their programming to younger audiences. Mr. Steinberg envisions a streaming cable bundle that costs around $7 to $15 a month and includes programming from a few traditional TV firms like Discovery as well as newer networks like Cheddar.

Dorian Benkoil and David Cooperstein commented on this article.
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“Our thesis is there will be more customer choice and smaller bundles, and the channels that survive will be the ones that have strong brand awareness and passionate audiences.”