Yahoo CEO Terry Semel, during his annual presentation to Wall Street analysts and investors, inflated Yahoo’s goal for paid subscribers. Semel said Yahoo is increasing its target by 50 percent to 15 million new subscribers, an increase from the 10 million goal that he announced during his first analyst day as Yahoo’s new chief in November 2001. “Beware–we’re quiet,” Semel hinted, in a statement directed toward competitors Google and Microsoft. “All we want to do is win, and that’s the only thing that excites us.”
Yahoo is striving to be the prime Internet media and search hub with its entertainment and news offerings - topped off with their new Yahoo Search Technology. “People will spend less time with traditional media and more time on the Internet,” Semel added. “As audiences continue to move, advertising dollars will ultimately catch up and advertising dollars will start chasing audiences.”
Last quarter, Yahoo’s paid services grew from about zero to $88 million in revenue. Yahoo credits most of that growth to its SBC Communications broadband partnership. Online personals and paid email also counted for a good bit of that revenue increase.
