Home Business About 1.5 million folks nonetheless pay for AOL — however now they...

About 1.5 million folks nonetheless pay for AOL — however now they get tech help and identification theft providers as an alternative of dial-up web

American On-line shirt, AOL from City Outfitters

Supply: City Outfitters

Amid the hodgepodge of Verizon Media assets that Apollo International Administration is shopping for from Verizon — Yahoo Finance, TechCrunch, promoting expertise, Yahoo Fantasy — there’s one money stream stream that won’t die: AOL.

The famed web firm that once bought Time Warner for $182 billion and used to make billions of {dollars} yearly promoting dial-up modem entry, nonetheless has a month-to-month subscription service known as AOL Advantage.

In 2015, 2.1 million people were still using AOL’s dial-up service. That income stream has dried up. The variety of dial-up customers is now “within the low hundreds,” based on an individual conversant in the matter.

However AOL nonetheless has a reasonably profitable base of shoppers who pay for technical help and identification theft providers every month. There are about 1.5 million month-to-month prospects paying $9.99 or $14.99 per month for AOL Advantage, mentioned one other particular person, who requested to not be named as a result of the data is personal. If common income per consumer is $10 per thirty days, conservatively, that is $180 million of annual income.

Apollo introduced Monday it is paying $5 billion for 90% of Verizon Media. The personal fairness agency would not have speedy plans to spin off or promote any of the Verizon Media Group property, preferring to develop the gathering by way of funding and administration, mentioned the folks. Nonetheless, the long-term plan could contain discovering totally different patrons for the gathering of companies after Apollo makes an attempt so as to add worth to the items, the folks mentioned.

Verizon agreed to pay $4.4 billion for AOL in 2015 and $4.5 billion for Yahoo in 2017.

Whereas AOL has largely light from fashionable tradition, Yahoo nonetheless has about 150 million day by day lively customers and practically 900 million month-to-month lively customers.

A spokesperson for Apollo declined to remark. A spokesperson for Verizon Media did not instantly reply for remark.

WATCH: Cramer on Verizon’s deal to promote AOL, Yahoo to Apollo for $5 billion

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