CNBC reveals new Web site
Free from a five-year partnership with Microsoft Inc.’s MSN Money, cable network CNBC Inc. unveiled a redesigned Web site, according to USA Today
The improved site, launched Monday, features ad-supported content including live and on-demand video, charts, articles, a stock ticker and more – all on one screen.
The company is also offering users a subscription-based service. For $9.95 a month, subscribers can access six months of video content, and ad-free feeds of programming from the United States, Europe or Asia.
In June, CNBC severed ties with MSN. Under the partnership, CNBC.com was virtually non-existent, with the site redirecting to MSN Money’s portal and CNBC content marginally represented.
Englewood Cliffs, N.J.-based CNBC is a division of NBC Universal Inc. The network provides 24-hour programming on financial and business news and information. The network reaches about 86 million homes in the United States and Canada.
CNBC’s new Web site
is taking on heavy hitting challengers like Yahoo Inc.’s Yahoo Finance and CNN’s Money.com.
CNBC President Mark Hoffman said the site is expected to turn a profit by the end of 2007.
“You cannot underestimate our ability to drive our (TV) viewers to the Web,” he told USA Today. “And Web users are quick to go where they want…you see a YouTube pop up and six months later, after nobody’s heard of it, it becomes a top Web site.”
According to The List database, CNBC has no announced agency relationships.
According to Nielsen Monitor-Plus, the company spent about $5.5 million on media in 2005. The majority – about $3.4 million – was spent on national newspaper advertising. National magazine placement received about $700,000 and about $600,000 was dedicated to local newspaper ads.
With Its Web site virtually dormant for five years, CNBC.com needs to reintroduce itself to its consumer base – busy financiers looking for up-to-the minute information. The company also needs to siphon traffic from rivals, which include former partner MSN Money.
Obviously, CNBC plans to use its television shows to direct its viewers to the Web site. However, many financially savvy investors don’t ever watch CNBC. (Indeed, some investors snub their nose at CNBC and other television investing fare.) To create the largest possible audience, CNBC will need to create a campaign that reaches beyond its television audience.
We suggest agencies with public relations, direct mail or other below-the-line capabilities begin making introductions to CNBC execs. Web-based campaigns such as search-engine marketing or e-mail blasts could prove very effective, so interactive firms should also take note.