CNBC’s biggest threat at the moment isn’t cable’s recently launched, much-hyped Fox Business Network–it’s Web video.
Top business/financial news sites including CNNMoney.com and Yahoo Finance are pumping out more original video and now claim audiences approaching the daily ratings of the category’s leading cable network.
Such a Web-beats-cable story should turn heads in the TV industry, given the conventional wisdom that the audience generated by online video is purely additive. Thus, it’s a story some sites are bringing to buyers.
“I do think that we can start to become part of those conversations,” said Jonathan Shar, general manager of CNNMoney.com. Since dialing up video output in January from roughly two clips a day to upwards of 20, the site has shot to the top of Nielsen’s VideoCensus ranking for the financial news and information category, delivering 14.6 million total streams in March, nearly 10 million more than second-ranked MSN Money. CNN claims a daily collective reach of 807,000 viewers, over three times the 238,000 averaged by CNBC in April, per Nielsen. (CNBC officials did not return calls seeking comment.)
Shar said those numbers, plus the fact that CNNMoney is potentially accessible to 72 million broadband users at work, are now part of the company’s pitch to agencies.
From MediaWeek May 12, 2008