The New York Times has made a fascinating acquisition. They have purchased The Wirecutter, a product review website online, and Sweethome for $30 Million. The Times is also increasing its efforts to increase its digital revenue. They hope to double that figure by 2020. While the slowdown in print has affected their print revenues, they have found success with the online subscription model. In the coming years, they plan to expand the content of their websites to reach a wider audience.
The Wirecutter
In order to compete with Amazon's tech-related offerings, The New York Times is turning to The Wirecutter. The New York Times does not have many digital units and most standalone apps are not profitable. Both digital and print advertising revenue is declining, and the Times barely keeps its head above water. The Times may be considering cutting staff in light of its shrinking newsroom.
The Sweethome
The New York Times has purchased the five-year-old product recommendation website The Wirecutter, which includes sister site The Sweethome. The company is well managed, with a solid revenue structure and a dedication to excellent service journalism. The deal closed on Monday, and Recode reports that the paper paid $30 million for the new business. The New York Times is hoping to double its digital revenue by 2020, and it's making progress with its online subscription model.
New York Times
The New York Times is not afraid to review the latest gadgets when it comes to tech reviews. The paper even has a reporter who is open to technology. One reporter even brought an Apple iPad to work so he could share his knowledge with colleagues. The reporter also uses Twitter for news and updates. He gave the app glowing reviews in a recent article on an iPad app. Here are his three favourites. They are all worth a read.
Paywall for Wirecutter articles
The New York Times is putting a paywall on some of Wirecutter articles, as well as a few other popular cooking and games products. Although subscription prices are going up, the basic-digital/access subscription has not changed. A digital-media consultant stated that the Times strategy was sensible. However, he said that he would still publish Wirecutter articles but would not be publishing them behind the Times' metered payment wall.
Personal
New York Times staff members often do other work outside work. The New Year has placed the spotlight on this issue. NYT encourages heated debate on the Services. Personal attacks are forbidden. Find out how to report comments about the NYT. Also, don't forget the New York Times staff tech reviews. These reviews were written and edited by journalists. They are based upon their personal experiences and may not reflect those of the Times or its editorial boards.