Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Verizon Media Group

Verizon Media Group, the media division within Verizon, has 3 million people that pay for subscriptions across its portfolio of Yahoo-related products, like Yahoo Fantasy, Yahoo Finance and others, executives tell Axios.

Why it matters: Moving forward, the goal will be to rebrand most of its media franchises as Yahoo products, and to focus on selling subscriptions to those products via a rebranded subscription portfolio called "Yahoo Plus."

Driving the news: "Yahoo is the future of our consumer facing brand," says Joanna Lambert, Head of Consumer at Verizon Media.

  • "Over time, we will be moving non-Yahoo brands and centralizing them around Yahoo," she says. Already, the company has rebranded its media studio RYOT as Yahoo Ryot Lab, as well as its women's brand "Makers" as "Makers by Yahoo."
  • Other media outlets, like TechCrunch, AutoBlog and Engadget have not yet been renamed or rebranded. Those niche brands are now integrated across the Yahoo ecosystem in relevant categories.
  • MAKERS by Yahoo is a part of Yahoo Life, Autoblog is part of Yahoo Autos, and Engadget and TechCrunch are part of Yahoo News and Yahoo Finance. A Yahoo Tech category is on its way.

As part of the "Yahoo Plus," portfolio, Yahoo will offer several subscriptions — some already offered in beta — including:

  • Yahoo Fantasy Plus: Research tools, trade insights for Fantasy games
  • Yahoo Finance Plus: Formerly called Finance Premium, which will offer tiers for retail investors (Plus Lite) and seasoned traders (Plus Essentials)
  • Yahoo Mail Plus: Ad-free email, as well as customization features, like disposable addresses or domain blocking. 
  • Yahoo Plus Protect: Device protection and tech support plans in conjunction with Asurion, a device insurance company.
  • TechCrunch: ExtraCrunch, a members-only community from TechCrunch, charges users for access to investor surveys, market analysis, expert interviews, etc.

The company is also experimenting with "Tastemakers," which gives users free access to Yahoo subscription brand premium features, like investor reports.

  • The idea behind the Tastemakers program is to help lure more people to subscribe to Yahoo products.
  • For now, all Yahoo-branded products are offered as separate subscriptions. In the future, the company may consider combining them.
  • For each additional subscription a user buys within the Yahoo Plus, they get a deeper discount to others, allowing consumers to mix and match subscriptions. The idea is to create a highly-personalized subscription experience.

Between the lines: Verizon acquired Yahoo for $4.48 billion in 2017. At the time, the deal was meant to give Verizon lots of data so that it could sell targeted advertising against its entire portfolio of brands, including AOL, which it purchased two years prior for $4.4 billion.

  • Today, media giants are shifting away from depending solely on digital advertising and instead are diversifying their revenue streams with subscriptions, commerce and events.

The big picture: It became clear a few years ago that Verizon Media Group's strategy to create an advertising network that could compete with Google and Facebook wouldn't be enough to float its business. Verizon took a $4.6 billion write-down for its media unit in late 2018.

  • Two years later, the company is starting to find some success in subscriptions, as well as advertising revenues recovering from early on in the pandemic.
  • Verizon Media revenues were $2.3 billion last quarter — making it the first quarter of year over year growth since the Yahoo acquisition in 2017.
  • Yahoo is the biggest entity within Verizon Media Group, which also includes AOL, and some of its smaller sites like Engadget and Autoblog. The company has sold some of the other sites, like Tumblr and HuffPost.

"Being a tech media company, we have much more to offer than just content, but also tools and utilities," says Lambert.

  • "From a strategy perspective, we have enormous scale that is unlike most media companies in the world," says Lambert. "The question becomes, 'how do we take that audience and drive them from being free users to subscribers of really valuable paid offerings?'"
  • According to Comscore, Verizon Media was the fourth most-trafficked media entity across desktop and mobile last month in the U.S., behind Google, Facebook and Microsoft.
  • Lambert says the company also sees deeper subscription engagement as an opportunity to invest more into commerce.

What to watch: Yahoo News products do not have a subscription, but the company is doing user exploration on what that could look like right now.

  • "It's a significant and growing brand and business for us, especially as we have been focusing primarily on reaching younger generations," Lambert says, noting the company has over 1.1 million TikTok subscribers.

What's next: Lambert says that Verizon Media Group's goal is to diversify its revenue to be evenly split between advertising, subscription and commerce.

Go deeper

SoCalGas agrees to $1.8 billion settlement for 2015 gas blowout

An evacuee with a Save Porter Ranch sign outside Southern California Gas Company's Aliso Canyon gate in Porter Ranch in January 2016 as the gas leak continued. Photos: Al Seib / Los Angeles Times via Getty Images

Southern California Gas Company and its parent company announced Monday they've agreed to pay up to $1.8 billion in settlement claims over the 2015 Aliso Canyon natural gas storage facility blowout.

Why it matters: Some 100,000 tons of methane, ethane and toxic chemicals poured into the air for 112 days, forcing over 8,000 families to evacuate from their Los Angeles-area homes and sickening many with headaches, nausea and nosebleeds, per the L.A. Times.

Updated 5 hours ago - World

North Korea fires short-range missile to sea, slams "hostile" U.S. policy

North Korean leader Kim Jong-un. Photo: API/Gamma-Rapho via Getty Images

South Korea's Joint Chiefs of Staff said Tuesday that North Korea's military had fired a short-range missile toward its eastern sea, per AP.

Why it matters: North Korea's ambassador to the United Nations defended the latest launch in remarks to the UN General Assembly, demanding the U.S. and South Korea end their "hostile policy" against the country.

Arizona Judge: Adding mask mandates ban to budget bill unconstitutional

Arizona Gov. Doug Ducey (R) Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

An Arizona judge ruled Monday that the state's ban on mask mandates in schools, and other measures put into the state budget by Republicans, are unconstitutional, the Arizona Republic reports.

Why it matters: The sweeping ruling voids a ban on vaccine requirements for public universities, community colleges and local governments, and strikes down some non-COVID-related measures like a ban on teaching critical race theory in classrooms and anti-fraud measures for ballots.