Comcast, Charter Communications name streaming joint venture ‘Xumo’

Comcast, Charter Communications name streaming joint venture ‘Xumo’

Comcast and Charter Communications unveiled a new name for their streaming platform joint venture: Xumo

According to the cable giants, the free ad-supported streaming TV (FAST) service acquired by Comcast in 2020 will be transformed into “an entire entertainment ecosystem,” including streaming devices, content and a platform for partners to “reach audiences at scale.” “

“Since 2011, the Xumo brand has connected with millions of customers across the country, establishing itself as a leader in the free advertising-supported television industry for the innovative ways it delivers content to its users,” said Xumo President Marcien Jenckes in a statement. “The new Xumo will bring industry-leading streaming and aggregation technology nationwide through its expanding content, product lineup and dealer relationships.”

Xumo will bring its first branded devices to market in late 2023, distributed by Comcast, Charter and Walmart.

Ticker Safety Last Change Change %
CMCSA COMCAST CORP. 30.91 -0.65 -2.06%
CHTR CHARTER COMMUNICATIONS INC. 347.25 -9.76 -2.73%
WMT WALMART INC. 140.71 -0.94 -0.66%

NETFLIX TO BEGIN ACCOUNT SHARING MONEY SHARING IN EARLY 2023

Additional distributors will be announced at a later date.

Xumo’s FAST service will be renamed Xumo Play, and Comcast’s Flex 4K streaming device and XClass TV will be renamed Xumo Stream Box and Xumo TV, respectively. Xumo Play will anchor the free content offering on Xumo devices and continue to be available as an app on other streaming platforms.

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Under the 50-50 joint venture, which was first announced in April, Charter agreed to make an initial contribution of $900 million, funded over several years. In addition to Xumo’s more than 200 unique streaming channels, Peacock will also be featured on the joint venture’s streaming platform alongside other popular apps.

In the third quarter of 2022, Comcast gained 14,000 broadband customers, but lost 561,000 pay-TV subscribers. At the end of the quarter, the company reported a total of 32.17 million broadband customers and 16.58 million pay TV customers. Peacock’s paid subscribers in the US passed 15 million.

Meanwhile, Charter added 75,000 broadband customers and lost 204,000 pay-TV subscribers during the quarter. The company has a total of 15.29 million pay TV customers and almost 30.33 million broadband subscribers at the end of the third quarter.

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