April 25, 2001 12:50 PM PDT

Terra Lycos launches financial news service

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April 23, 2001
Terra Lycos said Wednesday that it will begin broadcasting a financial news program through its Quote.com subsidiary, a product that resembles an existing service from Yahoo.

The new Terra Lycos service, dubbed Quote.comTV, will broadcast live video reports during stock market trading hours. When people click on a specific link on Quote.com, Terra Lycos' finance site, a separate window will open that combines an online video screen, a Web browser and links to other resources.

Terra Lycos is not the first to do this. Last year, Yahoo launched a financial news service called FinanceVision that Webcasts stock market and financial information to Internet users. Unlike Quote.comTV, FinanceVision has hired its own staff instead of licensing from an outside company.

Both Terra Lycos and Yahoo are aiming toward the same goal with their respective offerings: They're trying news ways of drawing advertisers and breaking their dependence on strict banner advertising. Both products allow advertisers to buy slots in between segments, similar to TV commercials.

The idea behind Quote.comTV is to attract more people accessing the Web from work. Typically, these people have faster Internet connections through their businesses and have a greater need for financial information in the workplace.

The video broadcast and the Quote.comTV technology will be provided by the Financial Broadcast Network's "JAGfn." JAGfn re-creates a stock-trading environment where reporters are divided into market sectors. Throughout the trading day, the reporters update the program with breaking news and information. After trading hours, JAGfn shows highlights from the day.

Wednesday's announcement comes just days after Yahoo refurbished its Yahoo Broadcast service. The offering takes on a similar layout to Quote.comTV and FinanceVision. In addition to broadcasting information, Yahoo Broadcast shows news reports, classic movies and other entertainment clips.

 

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