NYT reached 1M paid digital subscribers this month. As the Gray Lady competes against Facebook, Twitter and Words With Friends for consumers’ time, journalism continues to seek its market valuation in a world of free “news.”
In the tech world, especially among startups, writing is free. So is social media. Unfortunately your customers’ time isn’t free. NYT has hired 1,300 of the world’s best journalists at a cost of $300M in newsroom payroll to find the most important and interesting stories. Competition for eyeballs is shifting from high volume, free content (cat videos) to subscriber only quality engagement (Netflix, NYT, HBO).
The cat video era is coming to a close. The question for PR and marketing pros is how can we take content marketing to the next level or, like Acura and Jerry Seinfeld, start sponsoring next level premium content?