The Yahoo! mission: To connect people to their passions, their communities, and the world’s knowledge.
Just as the web is evolving, Yahoo is evolving from a utilitarian focus on content to an experiential and immersive focus on people and communities.
They have shed their desire to be a destination site, understanding that “opening Yahoo! to the web” and connecting their audience to others is far more powerful – and, ironically, promotes a higher level of user engagement.
Yahoo! firmly believes in the value of partnerships. According to Scott, most of their properties are built on partnerships (quoting 80-90% of content on Yahoo as being licensed).
Some of their partnering successes include:
- 60 Minutes – Yahoo! took segments from the show every week and offered short clips as well as out takes to their audience. This increased the “stickiness” of Yahoo! and exposed 60 Minutes content to a much younger audience. What they found was that the average visitor consumes more video on Yahoo! than they would have if they’d watched the show.
- Local News – There are 264 local papers in the Yahoo! News Consortium partnering with Yahoo! on advertising, content, and search. Yahoo! gets local content and the consortium members get national exposure and global reach. Currently this partnership yields $15M clicks/month to local news providers.
Scott also spoke about Yahoo’s original content projects, their efforts to promote user generated content (Fantasy Sports, You Witness News), and how they’re pulling diverse content assets together to create “brand universes” (WII).
Ironically, based on this presentation, it seems as though Yahoo! is being “less evil” than some other players!