VSNT CEO: We’re Reshaping How the Next Generation Accesses Education

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By William Temple Published

Quick Read

  • Versant Media Group (VSNT) is launching a direct-to-consumer CNBC subscription service combining editorial insights, portfolio tracking, AI-powered analysis, and decision-making tools to compete for retail investors against Bloomberg and fintech apps. The company is expanding non-pay TV platforms from 17% of revenue in 2024 to a target of 33% within 3-5 years, with multiple DTC launches including MS NOW and a Fandango streaming service expected in 2026.

  • Versant is pivoting from its traditional cable bundle business to digital subscription revenue streams, betting that CNBC’s brand trust can attract retail investors willing to pay for integrated financial tools and real-time prediction market data from its Kalshi partnership.

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VSNT CEO: We’re Reshaping How the Next Generation Accesses Education

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Versant Media Group (NASDAQ:VSNT | VSNT Price Prediction) spun out of Comcast just two months ago, and CEO Mark Lazarus is already making his biggest bet on a brand that most people associate with TV personalities shouting about stocks. That bet: turning CNBC into a full-stack financial platform for retail investors.

On the March 3 earnings call, Lazarus laid out the vision directly:

“CNBC will launch a next-generation direct-to-consumer subscription service tailored to retail investors, a fully integrated platform combining CNBC editorial insights, investment recommendations, portfolio tracking, advanced charting, AI-powered analysis, and powerful decision-making tools, all built on a brand and talent that investors trust. We believe this service addresses a significant market need with a product only CNBC can deliver.”

That last phrase is the one worth sitting with. “A product only CNBC can deliver” is a moat claim. Whether it holds up depends on whether retail investors actually trust CNBC’s editorial voice enough to pay a subscription for it, rather than turning to Bloomberg, Robinhood, or any of a dozen fintech apps already doing parts of this.

The strategic logic is clear when you look at where Versant’s money actually comes from. Full-year 2025 revenue came in at $6.69 billion, down 5.3% year-over-year. Linear distribution, the largest segment at $4.09 billion, fell 5.4%. Advertising dropped 8.9%. The only segment that grew was Platforms, up 3.9% to $826 million.

Lazarus put a number on where he wants to take that mix: “In 2024, 17% of our revenue came from non-pay TV platforms. In 2025, that increased to 19%… Our target is 33% over the next 3 to 5 years and over time to get closer to 50%.”

That is not a modest goal for a company whose core business is still deeply tied to cable bundles. The CNBC DTC launch, a new MS NOW direct-to-consumer platform, and a Fandango ad-supported streaming service are all expected to launch in 2026, and they represent the first real test of whether Versant can convert audience trust into recurring digital revenue.

The Kalshi partnership adds a layer of credibility to the CNBC pivot. Lazarus described it as “integrating real-time prediction market data directly into CNBC’s editorial coverage,” introducing new revenue streams and connecting with “a younger, highly engaged, and data-driven investor audience.” That is exactly the demographic a subscription financial platform needs.

Meanwhile, VSNT trades at $37.55 against a consensus analyst target of $37.75 and a trailing PE of just 5.6x. Analysts will be watching the CNBC DTC launch as the first concrete test of whether Versant can execute on its platform strategy.

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About the Author William Temple →

I write to invest, and I invest to spend more time with nature. Usually all at the same time. I'm a retired equities guy who saw a recession or four, and lives for what comes out of the other side of them.

I cover stocks across the board cause even though I feel like I've seen it all, there's always another way out there to make, and lose money. I want to help you do more of the former, and none of the latter. Making money with friends is my oxygen.

Let's go!

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