Guided by a focus on what today's business headlines mean to jobs, savings, and homes, CNNmoney.com has been profitable with video since it began video operations more than a year ago, Chris Peacock, the site's VP and editor told Beet.TV in a recent interview.
The site itself launched in 2006 with video following in early 2008. "We started video operations as a pure startup in Janaury last year and out
of the gate it was profitable right away because we recognized there was an audience demand," he explained.
Already, sites like YouTube had stoked consumers' appetite for videos online. News quickly became a popular category for online video viewing too. Then the financial crisis began and CNNMoney.com was well-positioned to deliver the kind of coverage Internet viewers seemed to want.
CNNMoney.com told Beet.TV that the site generated 25.8 million unique visitors last month, a 16.1% increase over last year. In July, the site was tops in its category in Nielsen's Video Census, delivering 17.4 million streams, with the average viewer watching nearly 15 streams per month.
Peacock said the goal at CNNMoney.com is to deliver the details on how what happens in Washington and on Wall Street relate to consumers' lives and their bank accounts. The site's aim is to reach viewers in real-time and wherever they are.
Online news viewers use the site in similar ways to TV viewers: they often multitask, he said. Some viewers will watch videos and do other things on the site or check out other sites at the same time. That dynamic demands "compressed storytelling" especially when it comes to video. However, some feature stories may be longer if necessary.
Daisy Whitney, Senior Producer