Andre Yoskowitz
14 May 2009 2:23
Following media mogul Rupert Murdoch's note that he may begin charging for online content for all newspapers in his empire, the New York Times has begun floating the same idea.
The Times has been hit particularly hard by the global recession as well as the decline in ad revenue for traditional media, and over the past five years has seen its stock price drop 90 percent. Currently, the NYT does not charge for online access to its content, but asks all guests to register one time.
In 2006, the company started the TimesSelect service, which forced users to pay extra to access archives and opinion columns but the service was a failure and in late 2007 the entire site was re-opened for everyone, free of charge.
A NYT staff writer, Jennifer Lee, via her Twitter page has discussed what occurred during a meeting with shareholders and explains that the company is currently "exploring a new online financial strategy" that would implement membership levels. Each level would have different access to content with obviously the most expensive having full access to the entire site.
Perhaps more notably, is the company's reflection on the failed TimesSelect service. They believe the service itself was sound (had over 500,000 subscribers) but failed because of poor marketing strategy. TimesSelect to make a comeback in 2009?