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Topic: Memos Sent to Romenesko
Date/Time: 5/16/2005 2:12:05 PM
Title: NYT staff memo on TimesSelect
Posted By: Jim Romenesko
 
To the Staff:

Digital growth requires bold, thoughtful and innovative progression. This was true when we first launched our online operations in the mid-90s and this is even truer today. We are, therefore, pleased to announce that we are taking another important step in our evolution as a robust online business and one of the world’s most respected sources of quality news and information.

In September we will be launching TimesSelect, a new product that provides exclusive access to Times Op-Ed columnists and a select group of Times and IHT news columnists on NYTimes.com. This offering will also include easy and in-depth access to The Times’s archives, early access to select articles on the site, as well as other exciting features. Home-delivery subscribers will automatically receive TimesSelect as part of their benefits. For others the cost will be $50 per year.

This approach achieves two important long-term goals:

First, it will create a new online revenue stream and provide us with additional resources to further strengthen our quality journalism and grow our digital future.

Second, it will complement other investments we are making on the Web
site, including a total redesign of NYTimes.com, the introduction of new verticals and multimedia features.

Since launching its digital operations, the Times Company has maintaine three business objectives: profitability, scale and revenue diversification. We achieved profitability in 2001, and the About.com acquisition has significantly expanded our presence on the Internet. We now offer over a billion page-views to the online marketplace, are collectively accessed by 30.5 million unique U.S. users, and, as of April, were the 11th largest entity on the Web.

With this decision - concluding months of detailed and thoughtful analysis
involving many of our digital and print colleagues, customers and industry experts - we will achieve a greater degree of revenue diversification, our third major digital goal. This will provide us with additional resources to maintain the momentum of our robust investment in quality news and information now and into the future.

Arthur, Janet and Martin

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