The deal shares a similar one announced last year in which Yahoo! shares content with ABC News. It will bring their content to more than 40 million people online and nearly 100 million households that CNBC reaches in the U.S.
CNBC becomes the premiere content source for Yahoo! Finance in the U.S., and the two companies plan to launch co-branded, original videos for online and cable TV.
Here's the release...
SUNNYVALE, CA & ENGLEWOOD CLIFFS, NJ, June 13, 2012 — Yahoo! (NASDAQ: YHOO), the premier digital media company, and CNBC, the world leader in business news, today announced a strategic alliance that will dramatically expand CNBC’s online reach and presence and provide a broadcast platform for Yahoo! Finance’s original content and contributors. Together, CNBC and Yahoo! Finance will bring an unmatched depth and breadth of content to a combined and unduplicated online audience of more than 40 million* people in the U.S. each month (which is twice as big as the next competitor) and share Yahoo! Finance’s content with the nearly 100 million households that CNBC reaches in the U.S. plus the countless unmeasured viewers watching out-of-home in the offices of chief executives, on trading floors, in five-star hotels, country clubs, fitness centers and fine restaurants.
Effective today, CNBC becomes the premier content source for Yahoo! Finance in the U.S., providing investors with even greater access to its signature in-depth reporting, marquee interviews and real-time financial news and analysis as part of the site’s broad and robust set of content. Later this year, the two companies will also co-create a new slate of co-branded, original videos which will appear on Yahoo! Finance and CNBC.com. Yahoo! Finance’s journalists will contribute to CNBC’s Business Day programming and CNBC clips, news and analysis will be prominently integrated into Yahoo! Finance and featured across the Yahoo! network.
“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, ” said Ross Levinsohn, Interim CEO of Yahoo!. “Together, we will deliver the most engaging, insightful and relevant premium and personalized real time experiences for viewers across screens.”
“This collaboration is about two leaders in their respective spaces coming together,” said Mark Hoffman, President and CEO of CNBC. “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.
Yahoo! and CNBC will maintain editorial control and host their respective sites. Yahoo! Finance will continue to feature content and perspectives from Yahoo!’s editorial staff as well as reports from other industry-leading providers and experts. CNBC will distribute its content to other leading online publishers in the category.
