Friday, October 26, 2012

The New York Times has now updated both its iOS apps to add in live election coverage in time for Nov. 6 election

The New York Times had previously launched a mobile app specifically for coverage of the upcoming elections, but the paper has moved to make sure its main mobile and tablet apps now have a live election coverage section, as well.

Last week the NYT updated its mobile app to add in the live election section, and now the tablet app has been updated, as well. Of course, the problem with the NYT's digital media strategy is that few readers will be using both due to the high cost associated with buying both the mobile and tablet editions.

The idea the NYT seems to be pursuing is that there is one brand, the NYT, and no matter what platform you choose, you are getting the NYT.

On the surface, this would seem to make sense, and it certainly promotes the brand. So what's the problem.
The problem is that it is limiting. If all that is available to buy is one product, basically access to the NYT website, in whatever form it takes, then the potential is limited. I think this is being reflected in the company's performance.

Yesterday The New York Times Co. reported that its Q3 profits fell 83 percent – and while the fall in profits can be mainly attributed to a comparison with the previous year's boosted performance due to the sale of investments, what can't be ignored is the continuing slide in revenue.

Advertising revenue fell 8.9 percent, and digital did not grow (it, in fact, fell). To grow revenue the company needs more digital real estate, and a stronger commitment to advertising sales. But the publisher appears to be moving in the opposite direction.