During the last half of 2013, four prominent journalists joined Web giant Yahoo, pointing to the growing credibility of online-only news sources.
Katie, David, Matt & Megan Say ‘Yahoo!’
The most recognizable name to join Yahoo is Katie Couric, who is finishing out her contract at ABC. Couric officially kicks off her role as Yahoo’s global anchor when she interviews former New York City Mayor Michael Bloomberg today. Three other journalists came to Yahoo from The New York Times. David Pogue covers personal technology, Matt Bai writes about U.S. politics and Megan Liberman is editor-in-chief of Yahoo News.
When the new hires were announced, claims that Marissa Mayer “poached” them from ABC and The Times were notable. However, the bigger story is that Mayer is trying to reposition Yahoo as your credible, reliable, all-digital hard news source.
More Users, More Clout, More Cash?
Mayer is betting that Couric, Pogue, Bai and Liberman can translate their established reputations in traditional media into new and recurring traffic for her fast-evolving digital media property. The bigger bet is that all these new reasons to visit Yahoo will generate ad revenue for the company. After posting a 6-percent revenue loss in 2013, Yahoo could use the boost.
As Talent Shifts, Spending Slowly Follows
As online properties build up their reputation and traffic as news outlets, traditional media is seeing ad spending slowly shift along with their talent. According to The Wall Street Journal, digital ad spending will surpass television ad spending in 2018. While it’s too early to tell whether Yahoo’s four newest stars will impact its brand or bottom line, we do know that they are following a much larger trend that won’t be going away any time soon.