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The Balance (website)

From Wikipedia - Reading time: 6 min
The Balance
Type of site
Personal finance
Available inEnglish
Area servedWorldwide
OwnerDotdash Meredith
URLwww.thebalancemoney.com
CommercialYes
RegistrationNo registration necessary
LaunchedSeptember 6, 2016; 8 years ago (2016-09-06)
Current statusActive

The Balance is an American website focused on simplifying personal finance topics and news. Headquartered in New York City, The Balance is part of the Dotdash Meredith family of websites.

The Balance currently reaches 19 million unique viewers in the US each month.[1]

History

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The Balance grew out of the financial content written for the website About.com, which was launched in 1996.[2] The site was re-launched as a stand-alone personal finance vertical with updated content from About.com, as well as new content, on September 6, 2016.[3][4]

The site was the second of five vertical sites launched from the content that had comprised About.com by Dotdash, the rebranded About.com entity.[5]

Website

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While Dotdash launched all of its brands with a graphics-heavy design scheme, The Balance's is more restrained to "reflect the weightiness of the topic", according to Dotdash CEO Neil Vogel.[5]

At launch, The Balance featured more than 34,000 pieces of content written by 70 contributors.[6]

The site is written with a tone designed to appeal to millennials and younger generations, though it covers financial topics that are relevant to readers of all ages.[6] It was created to serve what CEO Neil Vogel referred to as an underserved market: the average consumer. The Balance seeks to explain difficult personal finance topics in simple terms. As of its launch, the readership of The Balance was 60% women and approximately 50% millennials.[7]

The site won the 2019 Communicator Award of Excellence for the Best Financial Services Site.[8] Its general manager, Lauren Silbert, was named a winner of the 2019 Top Women in Media by Folio magazine and a 2020 HERo Future Female Leader by Yahoo! Finance.[9][10]

Traffic and revenue

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The Balance had a readership of 6.5 million unique users when it launched in 2016, which grew to over 17 million by October 2017.[11] As of August 2020, The Balance was ranked #2 of financial news sites and reached 19 million unique US viewers.[1]

The Balance is supported through display and performance-based advertising.[12][13] At the time of its launch, Dotdash reduced the number of ads on its sites, including The Balance, by 35%, betting that "fewer, better ads will attract a larger audience."[14]

References

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  1. ^ a b "Dotdash: Our Brands". Dotdash. Retrieved September 1, 2020.
  2. ^ Garun, Natt (April 26, 2017). "About.com, the general interest site even its own CEO doesn't care for, is going away". The Verge. Retrieved September 1, 2020.
  3. ^ Moses, Lucia (September 7, 2016). "With new finance site, About.com targets the 'adulting' generation". Digiday. Retrieved September 1, 2020.
  4. ^ "About.com Launches The Balance". PR Newswire. September 6, 2016. Retrieved September 1, 2020.
  5. ^ a b Ingram, Matthew (May 2, 2017). "About.com Has a New Name and a New Strategy". Fortune. Retrieved September 1, 2020.
  6. ^ a b Crook, Jordan (September 6, 2019). "About.com launches The Balance, a personal finance website for everyone". TechCrunch. Retrieved September 6, 2016.
  7. ^ Guaglione, Sara (September 7, 2016). "About.com Launches Financial Site, Targets Underserved Market". MediaPost. Retrieved September 1, 2020.
  8. ^ "25th Annual Communicator Award of Excellence Winners". Communicator Awards. Retrieved September 1, 2020.
  9. ^ "Folio: Top Women In Media". Folio Magazine. Retrieved September 1, 2020.
  10. ^ "The HERoes top 100 female future leaders 2020". finance.yahoo.com. September 23, 2020. Retrieved September 30, 2020.
  11. ^ Shayon, Sheila (November 21, 2017). "From About.com to Dotdash: 5 Questions With CEO Neil Vogel". brandchannel. Retrieved September 1, 2020.
  12. ^ Willens, Max (December 21, 2017). "Dotdash has made $7 million this year from commerce links". Digiday. Retrieved September 1, 2020.
  13. ^ "ANGI Homeservices Inc (ANGI) Q3 2019 Earnings Call Transcript". Motley Fool. November 7, 2019. Retrieved September 1, 2020.
  14. ^ Fuller, Melynda (December 20, 2017). "About.com Reboots As Dotdash, Company Thrives". Publishers Daily. Retrieved September 1, 2020.
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