Ray J set to venture into tech industry
Ray J set to venture into tech industry launching digital network
Competition for streaming channels
According to AfroTech, Ray J – actor, singer, television personality and entrepreneur – will be launching a digital network. Specifications on the new venture have not yet been disclosed, it’s said that the network will feature original content.
If the reports are in fact true, the move would come at a time when traditional television is facing competition. As the growing interest with streaming giants such as Amazon Prime, Disney+ and Peacock continues.
According to CNBC “Nielsen, known for measuring television usage in the United States. Thursday said that 64 percent of time spent on televisions was on network and cable TV, while 26 percent of time was spent on streaming services such as Netflix and Hulu. Another 8 percent, categorized as “Other,” includes video-on-demand, streaming and other TV uses, such as gaming and watching DVDs.”
He also cut a $31 million distribution deal with Cowboy Wholesale, a consumer electronics distributor based in New York. Now the combined company, called Raycon Global, is expanding its lineup of electronics gear with other “lifestyle” products. These include Bluetooth audio devices, smart watches, and drones. Ray J serves as chief strategy officer, while Ray Lee runs other parts of the business. At CES 2018, they made a lot of noise about the new markets they are going after.ADVERTISEMENT
The expansion of the business is ambitious. If it succeeds it will set Ray J apart from the many failed celebrity tie-ins out there. He wouldn‘t be the first to make it work. Kim Kardashian, Ray J’s ex, made more than $74.3 million with Glu Mobile in the first year of her mobile game, Kim Kardashian: Hollywood, in 2014. An obvious advantage for Ray J is his more than 1.5 million Twitter followers.
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