NY Times Takes a Bold Step Towards Paid Digital Content

Two years ago I argued that it was imperative for Web 2.0 and content companies to create multiple channels of revenue to build and maintain a sustainable, growth-oriented business.

My perspective was directed at fast-growth players like Facebook, LinkedIn and Twitter that have relied primarily on advertising revenue to fuel the top-line.  However, it is the New York Times -- a company with a 150 year history -- that has moved aggressively to carve out a myriad of revenue sources in the digital age.

Here is a copy of the letter I received today from their publisher:

An important announcement from the publisher of The New York Times

Dear New York Times Reader, Today marks a significant transition for The New York Times as we introduce digital subscriptions. It’s an important step that we hope you will see as an investment in The Times, one that will strengthen our ability to provide high-quality journalism to readers around the world and on any platform. The change will primarily affect those who are heavy consumers of the content on our Web site and on mobile applications. This change comes in two stages. Today, we are rolling out digital subscriptions to our readers in Canada, which will enable us to fine-tune the customer experience before our global launch. On March 28, we will begin offering digital subscriptions in the U.S. and the rest of the world. If you are a home delivery subscriber of The New York Times, you will continue to have full and free access to our news, information, opinion and the rest of our rich offerings on your computer, smartphone and tablet. International Herald Tribune subscribers will also receive free access to NYTimes.com. If you are not a home delivery subscriber, you will have free access up to a defined reading limit. If you exceed that limit, you will be asked to become a digital subscriber. This is how it will work, and what it means for you: On NYTimes.com, you can view 20 articles each month at no charge (including slide shows, videos and other features). After 20 articles, we will ask you to become a digital subscriber, with full access to our site. On our smartphone and tablet apps, the Top News section will remain free of charge. For access to all other sections within the apps, we will ask you to become a digital subscriber. The Times is offering three digital subscription packages that allow you to choose from a variety of devices (computer, smartphone, tablet). More information about these plans is available at nytimes.com/access. Again, all New York Times home delivery subscribers will receive free access to NYTimes.com and to all content on our apps. If you are a home delivery subscriber, go to homedelivery.nytimes.com to sign up for free access. Readers who come to Times articles through links from search, blogs and social media like Facebook and Twitter will be able to read those articles, even if they have reached their monthly reading limit. For some search engines, users will have a daily limit of free links to Times articles. The home page at NYTimes.com and all section fronts will remain free to browse for all users at all times. For more information, go to nytimes.com/digitalfaq. Thank you for reading The New York Times, in all its forms. Sincerely, Arthur Sulzberger Jr. Publisher, The New York Times Chairman, The New York Times Company

Confusion Reigns in the World of Early Adoption

The analysts at Forrester Research recently conducted a survey of corporate marketers to assess their views about which type of consultancy is most qualified to take ownership of the brand in this digital age. Is it traditional ad shops? How about interactive marketing firms? Or maybe public relations practitioners?

The results of this comprehensive query are right in step with my experiences speaking with prospective clients: it is simply too early to tell.

The integration of social media and digital into the marketing communications mix remains at the early adopter phase as companies test, measure and evaluate different approaches (and resources). For that reason, Forrester’s finding is completely expected:

Most interactive marketers don't trust their traditional agencies with digital work and yet most don't believe their interactive agencies are ready to lead yet either.

Give this time to play out…for best industry best practices to solidify…and expectations to take shape. I believe in the next 18 to 24 months we’ll see a clearer understanding of how organizations can tap the expertise of advertising, marketing, digital, social media and PR professionals to achieve their objectives.