InvestorsApril 27, 2022
Charter and Comcast Announce Joint Venture to Develop and Nationally Offer a Next Generation Streaming Platform
The Partnership Will Further Develop and Offer the Flex Streaming Platform that Includes a World-Class User Interface and Voice Search, and will be Available on 4K Streaming Devices and Smart TVs through Nationwide Retailers, Charter and Comcast
Joint Venture Provides App Developers, Retailers, Hardware Manufacturers New Opportunities to Reach Customers through a National Unified Experience
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Comcast will license Flex, its aggregated streaming platform and hardware to the joint venture, contribute the retail business for XClass TVs and also will contribute Xumo, a streaming service it acquired in 2020. Charter will make an initial contribution of
The XClass TVs will be available through national retail partners and potentially direct from Comcast and Charter to provide more customer choice. Xumo will continue to operate as a free global streaming service available through the joint venture’s products and third-party devices. Charter will offer the 4K streaming TV devices and voice remotes beginning in 2023. Comcast will continue to offer the Flex streaming platform as a streaming device and service to its customers.
"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,” said
“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,” said
The joint venture’s products will give consumers a state-of-the-art streaming experience to access their favorite apps, based on Comcast’s Flex product, which currently delivers all the most-watched streaming apps in the marketplace. The products will feature hundreds of free content choices through Xumo, a free, ad-supported service currently delivering more than 200 unique streaming channels. Peacock also will be featured on the joint venture’s streaming platform, alongside other popular apps.
The closing of the joint venture is subject to customary closing conditions. This joint venture does not involve the broadband or cable video businesses of either Comcast or Charter which will remain independent.
For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The company also distributes award-winning news coverage, sports and high-quality original programming to its customers through Spectrum Networks and Spectrum Originals. More information about Charter can be found at corporate.charter.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220427005400/en/