Yahoo Finance Takes on Bloomberg With New Subscription Service
Yahoo Finance, the popular finance platform focused on forex, crypto and stocks, is reportedly planning to launch a paid subscription service for its now 91 million monthly active users across mobile and desktop.
According to a recent report by Axios, Verizon Media Group/Oath (VZ), which owns Yahoo, is designing the new subscription service to compete with Bloomberg for retail investors, while also providing a testing ground for paid subscriptions for Version’s other subsidiaries, including TechCrunch and Yahoo Sports.
While the specifics of the service are not yet released, the Axios report does state that paying users will be able to access premium financial data tools, proprietary data sets, and industry research for a monthly fee to be set above $100.
“The launch of Yahoo Finance Premium is one example of the membership opportunities ahead for us as we focus on creating services that provide value to our consumers and advertisers, including subscription, transactions and commerce that are uniquely authentic to each brand,” said K. Guru Gowrappan, CEO of Verizon Media Group/Oath in a statement to Axios.
The website’s normal offerings, including the new live streaming network, will remain free and that the new subscription is meant to be additive. Ultimately, this move falls in line with other major news and content creators that are falling back behind paywalls to boost revenue.
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