On Wednesday, Verizon Media plans to launch a new financial platform targeted toward millennials and Generation Z, called Cashay.
The site is expected to feature a mixture of content that ranges from special reports, a series from the Yahoo Finance team, 400+ articles from Financial Fitness Group and Cashay’s own editorial staff.
There will also be original polls, quizzes, and videos, along with various calculator tools.
In order to appeal to younger readers, Joanna Lambert, Verizon Media’s consumer head, said that they plan to feature content according to major life events.
Most of the traffic is expected to be provided via web searches, especially on mobile devices, as they’ve identified the smartphone as a key tool for readers in their targeted age group.
“We wanted to make sure that a specific article answered their needs and that there would be other [attractive] content that would surround that initial search inquiry,” said Lambert. “Success will definitely come from strategizing for SEO.”
The site will also feature custom illustrations that were created by the editorial team. There were three possible aesthetic styles tested to see which would best appeal to their preferred demographic.
Of the 400+ articles being provided by Financial Fitness Group that were previously locked behind a paywall, Cashay will have their editorial team go through and repackage the articles.
The content will be reformatted in a proper editorial style, with new headlines and summaries.
Cashay doesn’t currently have a monetization plan, but they will eventually focus on bringing in advertising revenue through branded content. Lead generation will also provide transactional revenue, which Yahoo Finance has already tested with its articles.
Lambert explained that while Cashay readers might research various credit card types, they might be interested in applying for one, which is where lead generation will come in handy.
Each time a reader clicks on a link to apply for a given credit card, Cashay could earn a commission. “As someone is looking for different tips or education materials, there is an intent to open a bank account or refinance their student loans, “said Lambert.
The top driver for Verizon Media’s revenue right now is advertising, which brings in billions of dollars every quarter. Their subscription business represents their second largest source of revenue, followed by the smallest source, transactions.
Within the next five years, the company hopes to make each of those sources equal contributors.