A few gambling upstarts have already stumbled. Last fall, Fubo pulled out of the US market and this August, ESPN-owned sportsbook Penn relaunched its US operations as ESPN Bet. Tyler Perry is just one of several big-name, celebrity billionaires who have signaled interest in bidding on BET. It could be a smart move for them.
About BET
BET is the nation’s premier media company that connects to and engages with African American audiences. BET’s portfolio includes the Black Entertainment Television cable TV network, which launched in 1980, as well as digital, music, and international platforms. The company also owns and operates the jazz cable TV channel BET on Jazz, pay-per-view movie channel Action, a series of radio stations including a general interest news/talk format called Emerge, and a number of magazines including teen lifestyle YSB.
In 1980, media entrepreneur Robert Johnson launched BET with the belief that cable television was the medium of the future and that African Americans would watch programming that addressed their needs and interests. Johnson’s strategy grew out of experience as a lobbyist for the cable industry, where he learned that black audiences were fiercely brand loyal. He also knew that cable operators servicing primarily white and suburban markets were less likely to add new channels. As a result, بت کمپانی started small and built slowly.
History
BET is an American cable television network that primarily serves the black community. Its programming consists of original series and diverse black musical videos, as well as live events such as awards shows. The network has faced criticism for its programming, which some believe reinforces negative stereotypes about African Americans, but it has also been praised for its role in promoting black culture and highlighting issues that affect the black community.
In the 2000s, BET made significant advances in online gambling, including launching a virtual sportsbook and developing popular payment gateways that allow players to wager faster and more easily. In addition, the introduction of peer-to-peer betting allowed players to bet against each other instead of against the casino.
The potential sale includes the namesake linear channel; VH1, a sibling cabler that has focused on unscripted content for diverse audiences; fledgling streamer BET+; and several spinoff channels, such as BET Her and BET Jams. It also includes the production arm BET Studios.
Audiences
BET aims to provide content that is culturally relevant and engaging to its core audience. Its programming includes a channel geared toward African American women, a variety of music channels such as BET Hip-Hop and BET Jams, and a number of documentaries and films. In addition, BET offers a number of entertainment-related radio stations and operates the Color Code skin products line.
Despite cable TV’s crisis, the BET and VH1 linear networks bring in substantial revenue from subscriber fees and advertising. But with the industry shifting toward streaming services, a new owner could squeeze more profit out of those assets, especially if it packages them with other channels in its portfolio.
But even if Par gets rid of the BET and VH1 brands, there’s still a lot of library content associated with those two brands that could continue to show up on P+ or Pluto. RuPaul’s Drag Race, for example, has long carried the VH1 branding.
Programming
The betcompany Media Group oversees multiple TV channels and premium services that feature entertainment and news programs developed primarily for African Americans. It was launched in 1980 by co-founder Robert Johnson, a former lobbyist who saw cable’s potential to reach an audience neglected by broadcast television. The channel began with two hours of programming a week and soon expanded to offer a wide range of music videos, shows that targeted youth audiences, and political and issue-oriented shows.
While linear networks such as BET and VH1 are losing viewers at an alarming rate, they still bring in substantial revenue from subscription fees and advertising. Selling them would provide the new owners with a much-needed cash infusion without harming their parent company’s streaming platform, Paramount+. In fact, the sale could even allow Paramount to add more content to P+ from BET and VH1 (think more Everybody Hates Chris reruns).
Wrapping It Up
At a time when cable TV is reeling as viewers abandon the bundle, Black Entertainment Television and its digital offerings have become hot commodities. Tyler Perry and Byron Allen are among those exploring bids for BET Group, which oversees its namesake linear network and the eponymous streaming service.
