Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. 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 the Axios Closer newsletter 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!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

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 the Axios Sports newsletter. 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 the Axios Des Moines newsletter.

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 the Axios Tampa Bay newsletter.

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!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

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!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

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!

Photo by Cindy Ord/Getty Images for Yahoo

Yahoo Finance, the decades-old money brand now owned by Verizon, is launching a subscription service that aims to compete with Bloomberg for the cash and attention of retail investors, sources tell Axios.

Why it matters: Yahoo Finance Premium will act as a testing ground for Verizon Media Group (formerly called Oath) to launch more subscription services amongst its other brands (like TechCrunch and Yahoo Sports), as the advertising outlook continues to look bleak for traditional media companies.

"The launch of Yahoo Finance Premium is one example of the membership opportunities ahead for us as we focus on creating services that provide value to our consumers and advertisers, including subscription, transactions and commerce that are uniquely authentic to each brand. "
— K. Guru Gowrappan, CEO of Verizon Media Group/Oath in a statement to Axios

Verizon Media Group/Oath houses many smaller brands that have niche audiences, like TechCrunch, Engadget and Yahoo Sports. TechCrunch currently leverages its deep relationship with tech wonks to monetize big conferences. Yahoo Sports does the same thing with fantasy sports.

The details: The Yahoo Finance service is slated to launch in the first quarter of 2019. Subscribers will be able to access to premium financial data tools, proprietary data sets and industry research, on top of Yahoo Finance's free journalism and financial content.

  • Cost: The company is still experimenting with pricing, but given that it is targeting retail investors, the service will likely cost $100+ monthly, according to a source familiar with the pricing discussions.
  • Audience: The subscription is aimed at Yahoo Finance users, active traders, and investors who may not currently use Yahoo Finance. A Yahoo Finance spokesperson says internal research shows stronger than expected interest from women and younger demographics.
  • The free version: Yahoo Finance will remain a free website for investors and financial news enthusiasts to enjoy. The subscription product is meant to be an additive service for users to track their portfolios. Yahoo Finance's newly-launched live streaming network will remain free on its ad-supported website.

The bigger picture: The move is part of a larger trend of digital publishers creating new revenue streams out of subscription and membership offerings. On Monday, New York Magazine announced it is launching a digital subscription offering later this month for its full network of verticals.

Between the lines: When Oath was created in 2017, executives pitched its advertising business as being a serious competitor to Google or Facebook, but it has thus far failed to take on those tech giants.

  • It's now expected to grow its ads business by just 2% over the next four years while Amazon expects its ads business to grow 45% by 2020, per eMarketer.
  • The group's leadership team has been gutted over the past few months. Most notably, CEO Tim Armstrong exited earlier this year, which signaled to investors that the newly-formed conglomerate may be struggling to find its footing in the advertising sphere.
  • Executives said last month that Oath, which consists of AOL, HuffPost, Yahoo and other digital brands, is struggling to drive revenue. It later announced that it would rebrand Oath as Verizon Media Group.

Yes, but: Yahoo Finance is still a powerhouse brand. And despite slowed ad growth projections, Verizon Media Group/Oath is still a traffic behemoth.

  • Yahoo Finance still reaches 91 million monthly active users on mobile and desktop, per comScore, which is bigger than other finance news franchises, like Forbes Digital, and even major tech platforms, like Reddit.
  • Oath last month had higher combined traffic on desktop and mobile than Amazon, Comcast/NBCUniversal, Twitter and Apple, per comScore.

Go deeper: Publishers pivot to paywalls to survive

Go deeper

Hope King, author of Closer
Updated 1 hour ago - Economy & Business

Peloton pumps its brakes

Data: FactSet; Chart: Axios Visuals

Peloton’s popularity is falling as swiftly as it shot up.

Why it matters: Not all pandemic habits stick around. Peloton's trajectory over the past two years exemplifies how challenging it's been for companies to gauge shifts in consumer demand — particularly in sectors heavily altered by the pandemic.

Mitch McConnell's remarks on Black voters raise ire

Senate Minority Leader Mitch McConnell during a Capitol Hill news conference earlier this year. Photo: Anna Moneymaker/Getty Images

Senate Minority Leader Mitch McConnell (R-Ky.) has been widely criticized for comments he made this week about Black American voters.

Driving the news: When asked by a reporter Wednesday about concerns among voters of color, McConnell said "the concern is misplaced, because if you look at the statistics, Black American voters are voting in just as high a percentage as Americans."

Updated 3 hours ago - Politics & Policy

Scoop: Trump’s friends worry legal pick for N.Y. case lacks experience

Photo illustration: Sarah Grillo/Axios. Photo: Brandon Bell/Getty Images

Close associates and advisers to Donald Trump tell Axios they're concerned by his decision to use a relatively inexperienced New Jersey attorney, Alina Habba, in his high-stakes legal fight against New York Attorney General Letitia James.

Why it matters: A former president typically has access to the country's most prestigious experts, including lawyers. Trump has turned to the former general counsel for a parking garage company, who works from a small law office near his Bedminster, N.J., country club.