July 27, 2016 2:50 pm | Updated 4 years ago.
Verizon Communications is now looking to venture into the digital media industry after acquiring Yahoo Inc. in a $4.63 million dollar deal. With shares and revenue of Verizon declining, Verizon now wants to use the viewership of Yahoo subscribers to re-generate its growth and create a niche for itself in the digital industry.
At present, the digital media market has been ruled by Google and Facebook. The advertising industry feels that it has already exhausted its resources in these companies and is now looking for a new market that develops and creates more creative content. Verizon wants to take up the challenge and use its mobile subscribers especially the young users to create an advertising haven that will help it recover its lost revenue and grow as a pioneer in the field of digital industry.
Verizon also wants to use its mobile apps to venture more in the world of sports by streaming its content over television networks besides streaming it over Yahoo and AOL to draw in more viewership and generate revenue through advertisements.
Source : http://www.wsj.com/articles/with-yahoo-deal-verizon-sets-sights-on-facebook-google-1469542028
Date of Publication: July 26, 2016