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Yahoo Finance is trying to break into the investor market with a new subscription service, Yahoo Finance Premium, which it is testing in beta at prices ranging from $ 35 to $ 55 a month.
Verizon Media Group, the Verizon unit to which Yahoo Finance belongs, shared the details of the service as well as other news last week at a Verizon Media Agency Advisory Board meeting, bringing together more of from a dozen senior agency managers regularly hosted by Verizon. to share updates with and get feedback from.
The meeting covered the entire spectrum of Verizon Media's strategy, from advertising products to subscription services, to premium content packages, and aimed to make clear that Verizon's parent company is fully engaged in its business. according to the participants. The unit has recently laid off staff and lost value since Verizon spent $ 10 billion to acquire AOL and Yahoo and in 2017.
Axios published its first report on Yahoo Finance Premium in November. According to this report, the service would likely cost $ 100 per month and would be aimed at small investors, with access to high-end financial data tools, data sets, and industry studies.
According to one participant, Yahoo Finance has been trying to find a common ground for pricing the service, and thinks that there is a market for a premium product costing around $ 50 a month. This person spoke under the guise of anonymity because the participants signed NDAs not to talk about the meeting.
A second participant wondered about the fact that the product is too specialized. "It's interesting for the investment community, the day traders." Where are the personal finances? It's so limited that it's limiting. That did not seem to me either. " as cheap. "
In addition to paid content, Joanna Lambert, Chief Financial and Technology Officer, told the meeting that Yahoo Finance also covered eight hours of free, daily live market coverage, according to Verizon Media's summary of the meeting. by Business Insider.
Yahoo Finance has just started filming the cover of a new studio at its New York headquarters and was hosting an evening on April 2nd to celebrate its opening.
Read more: HuffPost employees began receiving layoff notices a day after Verizon announced that it was going to reduce the staff of its media group by 7%
The first participant expressed skepticism about the live video, as it is mainly broadcast on the Yahoo site and no longer widely distributed to all the places where people find video content.
Verizon Media said in notes summarizing the meeting that it was planning to extend Yahoo Finance Live to Pluto TV, where its competitors are already located. A spokeswoman for Verizon said that any reference to Pluto was purely illustrative and that there had been no formal conversation between Verizon and the streaming service.
The way Verizon officials described the live service also evokes Brother HuffPost Live, which offered eight hours of live programming per day, but never got off the ground and was closed in 2016. after four years. (At that time, HuffPost was part of Verizon.)
"And these are the guys who brought you HuffPo Live!" the first participant said.
It is also difficult to know if the public still considers these sites as destinations, said the second participant.
Verizon Media, along with many media companies, are trying to launch consumer-paid products and services that will give businesses another source of revenue besides advertising. Already, Verizon Media's TechCrunch launched Extra Crunch two months ago, a $ 15 monthly service consisting of content, coverage, product and events for the hardest users.
Yahoo Sports of Verizon Media looks at fantasy and online betting
With Yahoo Finance, Verizon Media shared its strategy for Yahoo Sports. Geoff Reiss, general manager of sports, told the group that Yahoo Sports was turning to fantasy by developing a portfolio of fantasy games. The unit is also exploring online betting now legalized.
Some participants asked about the potential societal impact of sports betting. "The optics are ugly," said one of them. Verizon said in its briefing notes that in regards to online betting, it wanted to take a "proactive and responsible leadership position".
Participants asked about Go90, Verizon's mobile video service that was closed in 2018; and Yahoo's eSports, which ceased after Yahoo's acquisition of Verizon in 2017. Verizon executives acknowledged that eSports was struggling to cope with the general esports challenge of blocking high-volume ads .
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