Seeing the light
It seems that the sub-$20 stock price jolted the NY Times out of their self-absorbed navel gazing.
From the
NY Time:
Times to End Charges on Web Site
The New York Times will stop charging for access to parts of its Web site, effective at midnight Tuesday night, reflecting a growing view in the industry that subscription fees cannot outweigh the potential ad revenue from increased traffic on a free site.
The move comes two years to the day after The Times began the subscription program, TimesSelect, which has charged $49.95 a year, or $7.95 a month, for online access to its columnists’ work and to the newspaper’s archives. TimesSelect has been free to print subscribers to The Times, and to some students and educators.
In addition to opening the entire site to all readers, The Times will also make available its archives from 1987 to the present without charge, as well as those from 1851 to 1922, which are in the public domain.
The newspaper said the TimesSelect project had met expectations, drawing 227,000 paying subscribers — out of 787,000 over all — and generating about $10 million a year in revenue.
“But our projections for growth on that paid subscriber base were low, compared to the growth of online advertising,” said Vivian L. Schiller, senior vice president and general manager of the site, NYTimes.com.
Very smart move... Closed today at
$19.65 but it will be interesting to track over the next few days.
Posted by DaveH at September 17, 2007 5:45 PM