The "paper of record" continues to develop more business coverage, both in print and online, to appeal to more b2b advertisers.When the New York Times Co. bought Baseline StudioSystem, an online database of information on the film and television industries, last August for $35 million, it spoke to the publishing company's commitment to craft more vertical sales.
"We want to build out verticals from a position of strength," said Denise Warren, senior VP-chief advertising officer of New York Times Media Group, which includes the flagship New York Times and NYTimes.com.
Warren said the Times Co. will integrate elements of Baseline StudioSystem into NYTimes.com later this year. The move should boost the Times' online revenue, which grew 22% in the first quarter and helped to offset a 3.4% decline in overall ad revenue.
Warren added that the Times Co. has several initiatives in the pipeline, both in print and online, to deliver "more relevant content" to specific audiences. Some of the initiatives focus on growing integrated ad buys. For instance, DealBook, a financial report that has been online for the past few years, introduced a special print section April 4.
DealBook Online this year added DealBook Jobs, for job hunting and career management in the financial services sector.
Print advertising initiatives include a special "Tech Innovation" section that will debut Sept. 12 and two special supplements titled "Business of Green."
"The [New York Times] business section is still one of the best," said Brad Adgate, senior VP-corporate research director of Horizon Media. "A lot of b2b advertisers will sponsor the `Business' section during the week combined with a buy in the `Sunday Business' section, and maybe some ancillary sections for a deep dive." Last summer the Times started selling ad space on the front page of its "Business" section.
Sarah Fay, CEO of Isobar U.S., said the Times Co. has "always been about brand advertising, which is becoming a much bigger consideration in the online space for b2b buyers."
In addition to better print-online alignment, the company is making other changes for the digital age. For example, The Times Reader, a digital version of the print product, was introduced in March.
On Aug. 6, the Times will be following the lead of other newspapers when it trims its width from 13.5 inches to an industry standard 12 inches for all of its editions.
2007 MEDIA POWER 50
|No. 1 The Wall Street Journal||No. 2 Google||No. 3 Forbes.com|
|No. 4 The New York Times||No. 5. CNET Networks||No. 6. Meet the Press|
|No. 7 USA Today||No. 8 BusinessWeek||No. 9 ESPN 'SportsCenter'|
|No. 10 Yahoo!|
|Top Newspapers||Top Business Magazines||Top IT Magazines|
|Top Trades||Top Web Sites||Top Broadcast|