Ah, the absurdity of reporting on oneself in the third person. The New York Times (NYT) and others have picked up on TechCrunch’s and Valleywag’s reporting on a forthcoming Yahoo (YHOO) Finance video venture called TechTicker, noting that it may be staffed by SAI Editor Henry Blodget, BusinessWeek columnist and Valley star Sarah Lacy, and uber-commentator Paul Kedrosky.
We’ll pull a Sergeant Schultz on the stuff reported above, but we do think it’s time someone observed that producing and/or distributing more Finance-related video is a smart move by Yahoo. Why? Several reasons…
- Finance and business-related video can be a great business, as CNBC and others demonstrate every day.
- Yahoo has the largest Finance-related audience in the world. Bigger than CNBC, bigger than Reuters, bigger than Bloomberg, bigger than any other finance-and-market-related site or production on the planet.
- Yahoo is not hamstrung by an existing subscription or advertising-based business model.
- Yahoo is not hamstrung by iron-clad contracts with traditional-media distribution partners (e.g., cable companies). The main reason you can’t have CNBC playing all day on your PC, for example, is that CNBC’s cable contracts forbid this. This is too bad, because CNBC produces some great stuff, but CNBC’s loss is potentially others’ gain.
- The finance and market-related audience is global, 24/7, and 100% online. You can research and trade stocks without having a TV. You cannot, for all intents and purposes, research and trade stocks without having an Internet connection.
- Traditional video content produced for TV doesn’t work very well online, in part because it’s produced for a generalist audience. Online audiences can be much more targeted.
Obviously the success of any Yahoo Finance video venture will depend on execution: Specifically, the right model and the right content in the right place at the right time. Given Yahoo’s unparalleled global distribution platform, however, a new commitment to providing this makes great sense.
Disclosure: Henry Blodget has a long-term position in Yahoo stock
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