Oct 25, 2018

Cheddar is acquiring Rate My Professors

Photo: Cheddar

Cheddar, the streaming video network dubbed the "CNBC for millennials" is acquiring Rate My Professors (ratemyprofessors.com), the popular website used by college students to rate their teachers and professors.

Why it matters: The franchise, used by more than 6 million students a month, will add a user-generated component to Cheddar's business, which to-date has focused on mass distribution of professionally-created news content.

Details: Advertising company Taboola has also signed on as a strategic in-feed discovery partner for Cheddar’s operation of Rate My Professors. In a statement, Taboola CEO and founder Adam Singolda says the company is bringing an infinite scrolling feed structure to the site, which is meant to attract millennials.

Between the lines: The acquisition follows a spree of acquisitions and partnerships brokered by Cheddar over the past few months, many of which focus on winning the young adult and student demographics.

  • In May, the company acquired Viacom's "MTV Networks on Campus," the distribution platform for Viacom's college campus-based service, MTVU.
  • The live network, now called CheddarU, reaches nine million students nationwide on 600 college campuses.

The bottom line: Cheddar has built an extensive distribution network to make sure their content is consumed as widely as possible.

  • Like other popular media businesses, they hope to have more pricing leverage, both with consumers and distributors, once they reach a point of saturation. In July, Cheddar said it will do $25 million in revenue for 2018, but Steinberg says it will now be closer to $30 million. Still, millennials are their target audience.
"Rate My Professors coupled with our OTT networks and CheddarU network makes us the defining media company for a new generation that has no relationship with legacy cable news media.”
— Cheddar CEO Jon Steinberg

Go deeper

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 1,094,068 — Total deaths: 58,773 — Total recoveries: 225,519Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 273,880 — Total deaths: 7,077 — Total recoveries: 9,521Map.
  3. Public health latest: The CDC is recommending Americans wear face coverings in public to help stop the spread of the coronavirus.
  4. 2020 latest: Wisconsin's governor called for a last-minute primary election delay. "I think a lot of people cheat with mail-in voting," President Trump said on the 2020 election, as more states hold primaries by mail.
  5. Business updates: America's small business bailout is off to a bad start. The DOT is urging airlines to refund passengers due to canceled or rescheduled flights, but won't take action against airlines that provide vouchers or credits.
  6. Oil latest: The amount of gas American drivers are consuming dropped to levels not seen in more than 25 years, government data shows. Trump is calling on the Energy Department to find more places to store oil.
  7. Tech updates: Twitter will allow ads containing references to the coronavirus under certain use cases.
  8. U.S.S. Theodore Roosevelt: Senators call for independent investigation into firing of Navy captain.
  9. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Government will cover uninsured patients' coronavirus treatment

Azar at Friday's briefing. Photo: Win McNamee/Getty Images

The federal government will cover the costs of coronavirus treatment for the uninsured, Health and Human Services Secretary Alex Azar said at a White House briefing Friday.

How it works: The money will come from a $100 billion pot set aside for the health care industry in the most recent stimulus bill. Providers will be paid the same rates they get for treating Medicare patients, and as a condition of those payments, they won't be allowed to bill patients for care that isn't covered.

More states issue stay-at-home orders as coronavirus crisis escalates

Data: Axios reporting; Map: Danielle Alberti/Axios

Alabama Gov. Kay Ivey issued a stay-at-home order on Friday as the novel coronavirus pandemic persists. The order goes into effect Saturday at 5 p.m. and will remain in place through April 30. Missouri Gov. Mike Parson also issued a statewide social distancing order on Friday.

The big picture: In a matter of weeks, the number of states that issued orders nearly quadrupled, affecting almost 300 million Americans.

Go deeperArrowUpdated 3 hours ago - Health