“You started learning how to count right, I see,” explained Sean “Diddy” Combs to Forbes earlier today, likely referring to our latest estimate that placed his net worth at $580 million. “Thank God!”
But he was calling from France to talk about something else—a venture that could one day make him a billionaire—Revolt TV. Diddy is the network’s majority shareholder, and just announced a carriage deal with Time Warner Cable (TWC). That means his network will have over 25 million subscribers when it debuts this fall, he says, the biggest launch in history behind only Oprah Winfrey’s OWN and perhaps one other.
“Revolt is the first network that’s being launched in the social medial age,” he said. “Multi-screen, multi-platform, from mobile to digital.”
But he was calling from France to talk about something else—a venture that could one day make him a billionaire—Revolt TV. Diddy is the network’s majority shareholder, and just announced a carriage deal with Time Warner Cable (TWC). That means his network will have over 25 million subscribers when it debuts this fall, he says, the biggest launch in history behind only Oprah Winfrey’s OWN and perhaps one other.
“Revolt is the first network that’s being launched in the social medial age,” he said. “Multi-screen, multi-platform, from mobile to digital.”
So will Revolt make Diddy a billionaire? Perhaps not immediately, but there’s a good chance down the line. Cable networks are notoriously difficult to launch. The field is crowded, and established players don’t like ceding ground to newcomers. But Diddy seems to have found a way. In February 2012, Comcast (CMCSA) agreed to distribute Revolt–along with three other minority-owned independent networks—to the 10 million homes it reaches. The Time Warner deal should push Revolt past the 20 million threshold. And if Diddy can indeed hit 25 million, he’ll have more than a quarter of MTV ’s audience.
Once in the door, the economics of cable television can be extremely favorable to network owners. SNL Kagan estimates that cable companies pay MTV $0.43 per month per subscriber, which works out to just over $5 per year, or about $500 million in annual revenues. And Diddy is more than happy to challenge the original music network.
Once in the door, the economics of cable television can be extremely favorable to network owners. SNL Kagan estimates that cable companies pay MTV $0.43 per month per subscriber, which works out to just over $5 per year, or about $500 million in annual revenues. And Diddy is more than happy to challenge the original music network.
