Citing sources familiar with the matter, the WSJ said that the NYT is receiving more than enough from Google to make up for the loss in sales caused by Meta’s suspension of its all-material contract last year under an expansion contract with Google earlier this year.
The WSJ explained that Google’s all-materials are becoming an additional source of income for the NYT amid a slowdown in the advertising market at a time when Meta’s all-materials contract suspension last year forced it to lose $20 million a year.The NYT announced earlier this year that it had signed an expansion contract with Google that included distribution and subscription of news content and the use of Google marketing tools, but did not disclose details such as the size of all materials.NYT posted revenue of $2.31 billion last year, up 11% from the previous year.The New York Times and L.A. Times, the two major U.S. media outlets, can produce reliable content offline even on the day of online expansion, and make traditional news for quick coverage and real-life reporting.
Chang Young Choi
US ASIA JOURNAL
