The New York Times acquired The Wirecutter and Sweethome, an online product review website. This acquisition was worth $30 million. The Times has increased its digital revenue growth efforts and hopes to double it by 2020. The slowdown in print has had an impact on their print revenues but they have seen great success with the online subscription model. They will continue to improve the content of their websites and reach a wider audience over the coming years.
The Wirecutter
The Wirecutter will help The New York Times compete with Amazon in tech-related areas. The New York Times doesn't have many digital units. And standalone apps haven't always been successful. Both digital and print advertising revenue is declining, and the Times barely keeps its head above water. The company is looking at reducing staff due to a shrinking newsroom, fewer articles paid for and other factors.
The Sweethome
The New York Times has purchased the five-year-old product recommendation website The Wirecutter, which includes sister site The Sweethome. It is a well-run company with a strong revenue model and great service journalism. The deal closed on Monday, and Recode reports that the paper paid $30 million for the new business. The New York Times wants to double its digital revenue, and it is making great progress with its online subscribe model.
New York Times
In its tech reviews, the New York Times does not shy away from the newest gadgets. 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. Twitter is also used by this reporter to share news and update. In a glowing review, he recently wrote about a new iPad app. These are his top three favorite apps. All of them are worthy of a read.
Paywall for Wirecutter article
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. While a digital media consultant agreed that the Times strategy needed a paywall, he stated that he would continue to publish Wirecutter content, but they would remain behind the Times’ metered paywall.
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 discussions about the Services. However personal attacks are not permitted. For more information on how to report such comments on NYT, please read the following. The New York Times staff tech reviews are also available. These reviews are written by journalists and editors. They are based upon their personal experiences and may not reflect those of the Times or its editorial boards.