Can Wine Save The Times?

We took note of the New York Times’ Wine Club, an interesting way for the paper to try to raise revenue in tough times. It’s still too early to tell if the paper of record can be saved by a bunch of thirsty readers. Mediashift.com has an in depth look at revenue raising gimmicks like this.

The Times admits that it's designed to help make up for declining revenues in other areas of the paper. Check out this quote from Thomas Carley, a senior vice president of strategic planning:

"Classified ads were an example of that and today it's no longer the staple it once was. It behooves the industry and the New York Times to think of ways to replace some traditional revenue streams using that same thinking. What is our community and how can our newspaper pay for its journalism by enhancing that community? The wine club is an example of that."

Well, we love the Times almost as much as we love a good red. Hopefully there are enough lushes out there for them to succeed!

Comments

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It is a great experiment of our times. The times should be congratulated for such an innovative initiative.
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Jacob
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