Seeking Alpha, the popular and respected online financial community, has been dumped by Yahoo Finance. In an awkward missive to the legions of Seeking Alpha aficionados, Eli Hoffman, SA’s Editor-in-Chief, says that this is actually good news for SA contributors and followers. Why? SA will now pay contributors more, while not having to pay Yahoo Finance for traffic.
Why is this awkward? Because Hoffman makes it clear that it was Yahoo Finance’s decision to sever its relationship with Seeking Alpha, although he doesn’t say why. In a long letter to the SA community Hoffman attempts to play offense while being on the defensive. I don’t understand the SA pay structure for contributors (apparently, neither do contributors) but it seems miniscule. Can contributors actually earn substantial fees if they generate traffic on SA?
Most SA followers are clearly not happy about this development. Many say in comments that they follow SA articles through the ticker symbols on Yahoo Finance. Meanwhile, across town, Forbes contributors can earn real bucks.
Individually, 60 Forbes contributors made as much or more in 2013 than the $45,250 a year the Bureau of Labor Statistics says is the nationwide average for a professional reporter or correspondent. Five or so have built loyal big enough loyal audiences (the model pays more for repeat visitors) to top $100,000. Many dozens more make between $10,000 and $25,000.