November 1, 2016 Comments Off on The New York Times acquires online consumer guides
Just like other traditional media companies, The New York Times has struggled to stay relevant in the digital age. After suffering shrinking revenues for two consecutive quarters, the company has bought two new revenue streams to offset its loses. Last week, the company announced that it acquired product recommendation websites The Wirecutter and The Sweethome for over $30 million. Founded by former Wired and Gizmodo editor Brian Lam, The Wirecutter and The Sweethome recommend electronics and gadgets that users can click on to purchase. The websites earn revenue by getting a commission for every successful sale. According to analysts, this style of product advertising is quickly becoming the norm and should help The New York Times adapt to a new advertising revenue model.
March 22, 2016 Comments Off on The New York Times acquires HelloSociety to boost its social media
In a bid to expand its content marketing and native ad studio, The New York Times recently acquired HelloSociety, a social media marketing startup that connects brands with relevant influencers. According to sources, HelloSociety has a network of more than 1,500 influencers across Instagram, Pinterest, Vine, YouTube and popular blogs. HelloSociety assists in optimising brand presence in social media by matching brands with the right influencer. The company creates strategic content that tells a story, which is gradually released over time. The results are mini galleries presenting the brand in a most engaging and natural way. The New York Times plans to integrate HelloSociety’s tools into the services of its in-house marketing agency T Brand Studio.
August 5, 2013 Comments Off on Goodbye Print Media
Goodbye Print Media
In 2010 Sidney Harman, a billionaire from California, bought Newsweek from the Washington Post for $1 and $40 million worth of liabilities. Newsweek then merged with online news site The Daily Beast, owned by IAC. This week IAC got rid of the once-influential magazine, now only available in tablet format. IAC said it would rather concentrate on its more profitable and popular website. Barry Diller, IAC’s chief, said buying Newsweek “was a mistake.” IBT Media, an all-digital news publisher, acquired Newsweek.
Another traditional print media company, The New York Times Company, also sold its print newspaper Boston Globe and the rest of its New England Media Group to billionaire John Henry. This follows The Times’ sale of About.com to IAC in August 2012.
Is traditional print media a dying medium? Will printed news just become versions of web news? We think that just like vinyl records or lomo cameras, print media is here to stay but more for its analogue appeal than its overall function.
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