OLD Media Moves

CNNMoney.com to add video to compete with TV

December 3, 2007

Posted by Chris Roush

Matthew Flamm of Crain’s New York Business writes that CNNMoney.com plans to add up to 40 videos a day on business news and topics in order to better compete with CNBC and Fox Business Network.

CNNMoney.comFlamm wrote, “Executives say that the extensive video offerings will make CNNMoney more competitive not just with other business portals, but with the likes of television channels CNBC and the new Fox Business Network.

“‘We will compete with them for ad dollars and for viewers,’ says Vivek Shah, president of the Fortune|Money Group. ‘In the workplace, broadband penetration is a significant multiple bigger than cable connections.’

“CNNMoney’s star has risen in the two years since the site launched, particularly as Time Inc.’s business titles have suffered. Net ad revenues for the site are expected to jump 50% in 2007, allowing the group to end the year down just 5%. Online revenues now contribute more than 20% of the Fortune|Money Group’s total.”

Read more here.

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