Yahoo and CNBC will be sharing content, according to an announcement by the companies earlier this week. The deal is another step in Yahoo’s plan to acquire more content, and to generate more original content, as it positions itself as a premium media network.
Under this arrangement, CNBC stories and video will become part of the Yahoo Finance online section, Yahoo Finance journalists will contribute to CNBC’s Business Day, and both companies will collaborate to create co-branded videos that will appear in both venues. Each company will maintain editorial control and cover the costs of their own content, and each will host all of the content on their sites.
Two Financial News Leaders
The videos will include profiles of business leaders, market coverage and other topics. The companies said the CNBC and Yahoo Finance sites account for one-quarter of all business-related videos online.
CNBC President and CEO Mark Hoffman said in a statement that the collaboration is “about two leaders in their respective spaces coming together.” Yahoo Finance is already a popular source of business information, and has been the most visited online financial site for more than four years. CNBC is the leading financial news channel, reaching about 100 million households in the U.S. The companies said their combined online operations reach nearly 40 million visitors.
The terms of the deal were not announced, but the companies said that it includes a split in advertising revenue and that CNBC will act as the sales lead.
Yahoo Goes After the Best of the Best
Yahoo has been striking alliances of many kinds, including for content. For instance, the company already has arrangements with ABC News, the Associated Press and Dow Jones. However, the announcement by the two companies said that CNBC will be “the premier content source” for Yahoo! Finance in the U.S.
In fact, Yahoo vice president of news and finance Rob Barrett told news media that the CNBC deal represents “a paradigm shift for Yahoo,” where it is moving from “having many partnerships in which Yahoo has a small amount of original content to building up our own original profile and partnering with the best in each category to build a premium experience.”
Headquartered in Sunnyvale, California, Yahoo said that its sites are number one in finance, sports, news and entertainment news. The Englewood Cliffs, New Jersey-based CNBC reaches 395 million households worldwide, plus daily business updates to about 400 million households in China.