Starting today, Yahoo Finance and CNBC.com will be be partners in online business and financial content. In an effort to reach a wider audience with richer news content, the duo will share information and ad revenues.
This will extend their reach to twice that of their closest competitor and allow them access to over 40 million people in the United States every month. They will also begin co-creating video content to be featured on both sites.
Aside from the shared ad revenues, no other money will change hands. The idea is to merely benefit from the distinctive resources each site has to offer; the broad reach of Yahoo Finance, combined with the depth of original journalism from CNBC's news staff is no doubt a powerful combination.
Ross Levinsohn, Interim CEO of Yahoo comments on the partnership with CNBC.com:
"Our mission is to create the richest and most powerful experiences for users each and every day. Partnering with CNBC will allow Yahoo! Finance to expand its offerings instantly and enhance its position as the most viewed and utilized finance site in the world,"
"Together, we will deliver the most engaging, insightful and relevant premium and personalized real time experiences for viewers across screens."
Mark Hoffman, President and CEO of CNBC comments on the partnership with Yahoo Finance:
"This collaboration is about two leaders in their respective spaces coming together,"
"With CNBC taking a central role on the biggest business news site in the world, we now have the ability to provide real-time news, analysis and information to a larger audience and offer unmatched advertising solutions for marketers looking for access across multiple platforms."
Key elements of the strategic alliance include:
* CNBC will be the premier content provider for Yahoo! Finance in the U.S. – Greater access to CNBC.com's stories and videos across the Yahoo! network, the No. 1 online finance destination in the U.S. CNBC content will be prominently integrated into Yahoo! Finance, the Yahoo! homepage and other areas across the Yahoo! network.
* Original video programming – Yahoo! and CNBC will jointly produce a slate of original videos to be prominently featured on Yahoo! Finance and CNBC.com as well as being promoted on CNBC. These programs, premiering this fall, will range from market coverage to profiles of the best minds in business. Currently, one out of every four videos viewed in the Business/Finance news category occurs on these sites.** The CNBC and Yahoo! Finance teams are experts in creating and distributing engaging and compelling video content.
* Joint sponsorship sales opportunities – Yahoo! and CNBC sales organizations will deliver powerful advertising solutions that provide advertisers access to affluent audiences viewing premium content at unprecedented scale, across platforms. CNBC will serve as the go-to-market sales lead.
The sites will maintain their current structures and editorial control, but will begin sharing content and co-producing original videos immediately. So you can look forward to enhancements from both parties ASAP.