Original Content in Internet Media
WSJ reports: Yahoo adds original content to Yahoo finance.
Yahoo Inc. has hired a roster of popular authors to write financial columns for its Web site, marking one of the company’s biggest moves into original content.
The Internet company today will begin publishing columns about personal finance and investing by an array of writers, including such well-known names in the business press as Ben Stein, Robert Kiyosaki and Stephen Covey. The Sunnyvale, Calif., company has signed nine new columnists to write for its Yahoo Finance site and plans to hire as many as 30.
“It’s about a deeper engagement with our core audience, and about attracting key demographics that we know are attractive to our advertisers,” said Scott Moore, vice president of content operations for the Yahoo Media Group, based in Santa Monica, Calif. One of Yahoo’s goals, he said, will be to attract more women in their 30s and 40s who are interested in personal finance.
For the venture, Yahoo tapped authors of business books, rather than plucking business columnists from newspapers and wire services, which might have caused friction with some of its news partners, which include the Associated Press, Reuters, the Los Angeles Times, USA Today and The Wall Street Journal.
Mr. Kiyosaki, author of the best-selling book “Rich Dad, Poor Dad” and a series of sequels, will write a column on “Why the Rich Get Richer.” In an interview, he said the opportunity to write for Yahoo’s large audience “was a match made in heaven.”
Yahoo Finance was the most popular online destination for financial news and information in the U.S. in August, attracting 12.2 million unique visitors, according to tracker Nielsen/NetRatings. That was slightly ahead of Microsoft Corp.’s MSN Money site, which drew 12 million.
Good move. Needs to be extended into other popular categories, as well as other formats such as Video, Audio, and Images. I also think it is better for Yahoo to add content selectively, and not go out and buy a large mainstream media company. It is not necessary, and the culture clash that will ensue will be a huge downer.
Netflix is working on becoming a key movie launch and distribution channel for Independent films, I hear, by the way.
Mainstream Media is going to have a hell of a time competing with these nimbler players with direct connection with their audience!
