As of January 8, Oath is Verizon Media, but they’re staying true to what matters most — consumers, partners, advertisers and talent.
What Is Oath, Now Verizon Media?
Oath, the latest subsidiary of Verizon Communications to be renamed, is a digital content company that acts as the umbrella company for AOL, Yahoo, Tech Crunch, Huffington Post and a handful of other content sites in the news, sports, entertainment and finance industries.
Why Was Oath Renamed To Verizon Media?
Originally launched by Verizon in summer of 2017 as a group of brands combined to compete with Google, Oath is now being renamed Verizon Media in response to its revenue decline, according to DigiDay.
What’s Changing Now That Oath Is Verizon Media?
While Oath’s core values are said to stay the same, Verizon Media Group announced this week that it is planning to lay off 7% of Oath’s 11,500-person staff, a chain reaction from the $4.5 billion cut in value of Oath properties. However, despite this week’s news, Verizon Media’s CEO Guru Gowrappan said they will “continue to scale, launch new products and innovate.”
In preparation for the name change, Oath sped up the process for several projects including the following:
- Yahoo App Launch. Oath launched the Yahoo! app, which allows users to view their weather, sports updates and news in one centralized location.
- Yahoo Finance Expansion. Yahoo! Finance features expanded, offering more content as of January 7, on channels like Apple TV, Roku, YouTube, Twitter and LinkedIn.
- Yahoo Sports Live Stream. Yahoo Sports hosted high-quality live streams of local and national football games, resulting in the most games ever streamed on mobile devices.
- HuffPost LIFE Launch. Huffington Post launched a section of their publication strictly dedicated to lifestyle content in formats better suited for multi-screen consumers.
- BUILD Series Expansion. BUILD expanded its live entertainment, which resulted in seven live hours of daily programming for Fios, ROKU, YouTube, Facebook and Twitter.
- NOW//With Network Launch. Yahoo Lifestyle launched the NOW//With Network platform as an interactive and celebrity-focused alternative where consumers can explore brands and products.
- Yahoo News App Launch. Yahoo News launched an app for dedicated journalism, where consumers can get their fill of news and global events.
“Our goal is to create the best experiences for our consumers and the best platforms for our customers,” noted a Verizon spokesperson. The Oath team plans to work on developing XR, AI, machine-learning, mobile-edge computing and 5G now that they’ve been renamed as Verizon Media.
Will Advertising On Verizon Media Differ From Advertising On Oath?
Upon becoming Verizon Media, the brand announced a partnership with Microsoft Bing Ads, which will enable Yahoo search traffic to be served by Bing Ads. Search Engine Journal describes the partnership as simplifying Bing Ads, Yahoo and AOL and making these platforms accessible in Bing Ads. David Pan, General Manager of Global Search Advertising at Microsoft, said, “This [the Bing partnership with Verizon Media] creates new opportunities for advertisers to reach an expanded Microsoft Audience Network with access to Verizon Media properties.”
The Verizon Media/Bing partnership should also make it easier for advertisers and marketers to manage their search ad campaigns with better aligned campaigns under Bing Ads. Advertisers can also benefit from a deep dive on their audience segments, offered by the Microsoft Graph and Microsoft AI capabilities, to target the right consumers with the right messages. Plus, Bing Ads predicts marketers may see a 10-15% increase in clicks.
Verizon Media advertising solutions, including content marketing, sponsorships and platforms continue to be available at oath.com/advertising.
What Is The Future Of Verizon Media Advertising Opportunities?
Due to consumers spending more time on mobile devices, desktop ad revenue has been slipping. Although Verizon Media is experimenting with more ad space within mobile content, they’re also exploring content paywalls as a way to generate incremental revenue. Verizon Communications CEO Hans Vestberg expects Verizon Media Group to “survive on their merits.” Noting strong content, in an interview with Axios earlier this month Vestberg explained the intention for Verizon Media Group to leverage Verizon subscriber data to compete with the likes of Google and Facebook.
Content platforms and media companies have been through a long list of changes in recent years, as they innovate to adjust to new media consumption habits and increased competition for advertising dollars. According to Adweek, Verizon Media Group’s planned changes appear to be in alignment with AT&T’s 2018 restructure placing the carriers on similar paths to new sources of monetization.
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About the AuthorMore Content by Victoria Pallien