People cannot get enough real estate.
From “Flip or Flop” to “Property Brothers,” people love them anything and everything real estate.
In case you needed more proof, Real Estate Network will try to launch TV and a digital launch in 2016.
What will the reception be to this channel?
Wait, there’s an unexploited category in real estate?
Real Estate Network is a startup aiming to launch in 50 million U.S. homes on TV and all Internet platforms, according to Variety.
The Real Estate Network was founded by Bobby Atkinson, a former commercial real estate broker from Minneapolis. He’s been working on developing this concept for six years, Variety said. And he’s already lined up a few big names to invest in his idea.
According to Variety, former ESPN chairman and founder Stuart Evey, who is chairman of the startup, and board members Jack Schneider, former managing director of Allen & Co., and Bungalow Media Entertainment CEO Robert Friedman, a former MTV Networks and Time Warner executive.
As Variety notes, the venture dubbed TREN has been funded primarily by Atkinson. He has had contributions from Evey, Schneider, Friedman and other undisclosed individual investors.
Atkinson’s plan is to play a distressed cable channel with distribution in 50 million homes. As Variety notes, he would then convert that to Real Estate Network. Atkinson did not disclose what channel that is.
Cable and satellite affiliates would receive a revenue share of advertising on the TV network, per Variety.
The reason for this network is the fact that housing is by far the biggest expense for most households. According to the Federal Reserve, the total mortgage debt as of the end of June was $13.3 trillion. In 2013, Americans spent $130 billion on remodeling projects.
Atkinson told Variety that the network would air original shows to four vertical segments: primary residence, second homes and vacation homes, investment real estate and senior living. He told the website he has an idea for a real estate game show that would award winners a new home.
As of late October, the network had 30 staffers with the expectation that there will be 275 heading to the launch of the network.
Whether there is market for a 24-hour real estate network remains to be seen.
Given how people eat up HGTV and pretty much everything that has to do with real estate, don’t bet against Atkinson and the Real Estate Network.