Yahoo! Inc. (YHOO)’s New Salvo to Revive the Future
Just ahead of the company’s earnings results announcement, Yahoo! Inc. (NASDAQ:YHOO) is trying to please its investors that it is on the job of reviving itself. For that, the company has initiated a new tactic to revive its fortunes. That is to offer the users an option to win cash. For this, the company has unveiled a fantasy sports service to be conducted on a day-to-day basis. The objective is to tap the new revenue generation model since it provides expansion to have its slice of share in the fantasy sports segment.
Yahoo! Inc. (NASDAQ:YHOO) has been engaged in the fantasy sports games and has been hailed as one of the leaders. It is known as Yahoo Sports Daily Fantasy. That enabled users to compete for fun, as well as, for bragging rights after participating a full duration of a season. However, this is the first time that the company is ready to offer money to the winning users.
The company indicated that the time has come to take the game to the next stage. In the process, the Internet Company decided to fulfill the long wishes of its users to provide cash to the winners every day. The current move makes it as the only technology firm to provide this kind of offer on a day-to-day basis.
Available On Mobile
The Silicon Valley firm said that the new fantasy game is available on mobile also through a standalone iOS app apart from other mobile browser. That is meant to target the smartphone or the tablet users segment, which is growing. The games can be played through online only and enable the users to use their imaginary teams. That might comprise real players, and also win points on the real-game performances of the players.
Yahoo! Inc. (NASDAQ:YHOO)’s gamble can be understandable. The company needs to convince its shareholders about the revival path. The fantasy game is popular among the online activities since it commands the user strength of approximately 56 million in the Americas, as well as, Canada. STATS believe that the industry is worth a minimum of $4 billion.
Except for four States, sports gambling are accorded a legal status in other States since fantasy games are called as a game of skills. Therefore, the new initiative is expected to attract fresh users to the company, which has been in existence for over two decades.
Yahoo! Inc. (NASDAQ:YHOO)’s latest move is a follow up of what was disclosed in the earnings conference call in April. The company’s CEO, Marissa Mayer, indicated that users spend over 30 billion minutes on fantasy sports sites. She gave a hint about the launch then. Therefore, it should not surprise anyone.
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