Categories: OLD Media Moves

CNNMoney.com to add video to compete with TV

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.

Flamm 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.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.