OLD Media Moves

CNNMoney.com gunning for CNBC, Fox Business

February 27, 2008

Michael Learmonth of Silicon Alley Insider writes Wednesday that Vivek Shah, president and publisher of CNNMoney.com, believes his web site can compete with business news networks CNBC and Fox Business Network.

CNNMoney.comLearmonth wrote, “Ambitious goal. How can he make it happen? Shah’s pitch: There are 80 million broadband-connected computers in the workplace, where most folks watch financial news networks. But there are only  4 million cable-connected TVs. If CNNMoney.com can stream enough compelling video, Shah argues, he can snatch some of the cable guys’ audience.Â

“We like this logic — it’s why we’ve argued that CNBC.com’s website should do the same thing. But CNBC, at least, is prevented from putting its best stuff online because of its existing cable deals. CNNMoney (and most other big financial websites) don’t have that problem.

“CNNMoney’s off to a promising start: It served 7 million video streams in January (per Nielsen), and 15 million in February (per CNNMoney’s internal numbers). The site upped its video production in January from one or two original videos a day to 31 videos.”

Read more here.

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