Summary:

Bereft of any way to monetize the seemingly valuable programming, Yahoo (Nasdaq: YHOO) has decided to close two free services: is scrapping…

Bereft of any way to monetize the seemingly valuable programming, Yahoo (Nasdaq: YHOO) has decided to close two free services: is scrapping two free broadcasting services: FinanceVision, which provided streaming video clips with business and stock news, and a radio channel that came with its $5 billion acquisition of Broadcast.com. According to the story, “FinanceVision didn’t mesh with the company’s strategy of generating more subscription-based revenue and reducing its reliance on advertising.”

FinanceVision was an ambitious strategy for Yahoo, the only section for which the portal produced original content. The vision was to become the CNBC of the Internet, but slow broadband adoption and lack of any kind of specific positioning did it in. Competition from the likes of Bloomberg, which has been streaming its TV content for free as well, has not helped. Expect Bloomberg to revisit its free streaming strategy in the near future…in fact, Bloomberg publisher told me in an interview about a month ago: “That is something we are looking at right now, for the same reasons other sites have looked at it–it is very costly to do. As a relatively new entrant in the market, it is very hard to get TV distribution, so our feeling has been that [the stream] is an important way for people to get to know us and understand our TV product.”

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