![]() The New York Times, like most newspaper companies hit hard by industry-wide declines in print advertising revenue, is looking to generate more digital consumer and advertising revenue. CEO Mark Thompson said in a prepared statement. "It's an impressively run business with a very attractive revenue model and its success is built on the foundation of great, rigorously reported service journalism," Times Co. Products are recommended, and the company gets a cut of the money when readers decide to purchase them. In contrast to the company's earlier acquisitions, The Wirecutter and sister site The Sweethome are editorial operations that have strong e-commerce-based business models. ![]() ![]() The Times spent approximately $12 million on HelloSociety, the company's chief financial officer said on an earnings call. Recode, which first reported the acquisition, put the cost at more than $30 million, but a New York Times spokesman declined to name the price. On the heels of buying digital marketing agency HelloSociety in March and design agency Fake Love in August, The New York Times has made another purchase: product-recommendation services The Wirecutter and The Sweethome.
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