Comcast Expands Streaming Portfolio with Xumo Acquisition
Key Details of the Deal
Comcast has officially acquired Xumo, a leading free, ad-supported streaming platform boasting over 190 channels. While financial terms remain undisclosed, the acquisition aligns with Comcast’s strategy to strengthen its position in the competitive streaming market.
Xumo’s Ownership Journey
Xumo’s history is a testament to the evolving digital media landscape:
- 2011: Launched as a joint venture between Panasonic and Viant (parent company of Myspace)
- 2016: Acquired by Time Inc. when it purchased Viant
- 2018: Became part of Meredith Corporation after its acquisition of Time Inc.
Strategic Implications for Comcast
Xumo will operate as an independent business unit within Comcast Cable, preserving its innovative culture while benefiting from Comcast’s extensive resources.
“The talented team at XUMO has created a successful, growing, and best-in-class set of streaming capabilities,” Comcast stated. “We look forward to supporting their continued innovation.”
The Competitive Streaming Landscape
This move follows significant industry developments:
- 2019: ViacomCBS acquired Pluto TV for $340 million
- 2020: NBCUniversal (Comcast-owned) prepares to launch Peacock, its hybrid ad-supported/subscription service
Xumo’s Market Position
As of Spring 2019, Xumo reported:
- 5.5 million monthly active users
- 300% revenue growth year-over-year
The platform’s success demonstrates the growing consumer demand for free, ad-supported streaming options in an increasingly subscription-heavy market.
Future Outlook
This acquisition positions Comcast to:
- Compete more effectively in the FAST (Free Ad-Supported Television) space
- Complement its upcoming Peacock streaming service
- Expand its digital advertising capabilities
Industry analysts will be watching how Comcast integrates Xumo’s technology and content partnerships into its broader media strategy.
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