A New Era for The New York Times

While newspapers across the country continue to wither and fold, media giant The New York Times refuses to lay down and die despite a disappointing first quarter and a persistent decline in advertising revenue. The Times Co. unveiled a new strategy for digital growth yesterday, set to unfold in the fourth quarter of 2013 and into 2014. The company’s new plan includes a tiered for-pay system, and although a price has not yet been set for the cheapest option, this “lower-priced paid product” will allow access to The Times’ most important stories in a “convenient, media-rich package for consumers looking for an efficient way to stay informed.” Deeper access and supplemental content, as well as specific editorial sections such as politics, technology, opinion, arts and food will also be offered at “low price points.” A third, all-encompassing (albeit more expensive) level will include bonuses such as access to Times events, the ability to give subscriptions as a gift and an option for full family access. “We mean to grow our business by launching new products and services based on the unique strengths of Times journalism and by investing in the rapid expansion of existing operations – video and live events are examples – where we’re already seeing strong growth,” Mark Thompson, president and chief executive officer, said in a release Thursday. While The Times Co. is in a position to reshape and redefine itself in today’s changing digital landscape, a multitude of papers and magazines across America continue to shrink. What does this mean for small business owners hoping for increased media exposure as the U.S. economy picks back up? Insert public relations professionals, who work to bring the stories directly from the people to the newsroom. With fewer traditional journalists hitting the pavement, PR is picking up like never before. For more insights on the future of digital media, check out the video below, courtesy of Markovsky Productions and ENEWFILMS, featuring a panel of experts from media outlets such as The New York Times and Buzzfeed. http://www.youtube.com/watch?v=NvUsjiy9mmY