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. Although the print market has been slowing down, they are seeing success with online subscriptions. They are planning to expand their website content to reach a larger audience in the coming years.
The Wirecutter
The Wirecutter has been hired by The New York Times to help them compete with Amazon's tech-related offerings. The New York Times has few digital units, and standalone apps have not paid off in most cases. Both print and digital advertising revenue are on the decline, and the Times is barely keeping its head above water. The company is considering slashing staff, due to a shrinking Newsroom and fewer paid Articles.
The Sweethome
The Wirecutter has been acquired by The New York Times, a five-year-old product review website. This site also includes The Sweethome. It is a well-run company with a strong revenue model and great service journalism. Recode reports that the paper paid $30m for the new company. The New York Times hopes that its digital revenue will double by 2020. It is also making strides with its online subscription model.
New York Times
In its tech reviews, the New York Times does not shy away from the newest gadgets. Indeed, the paper employs a reporter who embraces technology. To show his colleagues, one reporter brought an iPad to work. The reporter also uses Twitter for news and updates. He wrote a glowing review of an iPad app in a recent article. Here are his top three picks. They are all worth a read.
Paywall for Wirecutter articles
The New York Times is now imposing a paywall upon some Wirecutter articles. Although subscription prices have increased, the basic digital-access subscription price 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.
Staff
New York Times employees often do work from home, which is why the New Year spotlighted the issue. NYT encourages passionate debate about the Services. However, personal attacks are strictly prohibited. Find out how to report comments about the NYT. And don't forget to read the New York Times staff tech reviews. These reviews were written and edited by journalists. They are based solely on the journalist's experiences and do not necessarily reflect the Times editorial board.