Michael Wolff vs New York Times (eng)
Michael Wolff, media columnist at Vanity Fair, in the current issue contributes a dystopian analysis of The New York Times. (Read it here.)
It's loaded with information but peculiar in its criticism of The New York Times' online enterprises, which he calls both ridiculous, ill-advised and guaranteed to fail. He may be right in his rant against theeditorial quality (even though I find About.com – owned by The New York Times – quite substantial). But when it comes to profitability his criticism is rash.
The pay service TimesSelect has 190 000 unique paying customers. They generate more than 10 million dollars annually. (Read more at E&P)
Today Journalism writes that the web advertising spending rose by 30%. That saves the decline for the print advertising for the whole New York Times-enterprise. Print revenue falls by 3%.
So a 30% gain in internet advertising revenue can save the 3% print decline. That, of course, says a lot about how much stronger print advertising is, in terms of volume. But that The New York Times has chosen the wrong way with its internet venture is something I don't think the owners of the company would agree with.
Not now.
Not even ten years from now.
(Thanks John E Thelin!)
