The New York Times has earned the reputation of being
one of the world's premier newspapers since its
founding in 1851. For over 150 years people have relied on the paper
to report their news daily. Today, the Times is America's third
largest newspaper, trailing only USA Today and The Wall Street
Journal in distribution.
The Times hit the online newsstand in 1995 and has been a powerful
internet news presence ever since. The only downside is that it relegated
much of its best content to "select" status. Access to TimesSelect
for this year was priced at $7.95 per month or $49.95 per year.
Now the Times has made a significant announcement in a press
release -- there will be no more "select" content; everything on
the site will be viewable free of charge. The Times foresees
significant increase in traffic as it opens up access to over 20 of its premier
columns.
The Times' move already has its first major corporate sponsor, eager to
increase its advertising presence: American
Express.
The TimesSelect launched in September 2005, and according to The New
York Times had 787,400 active subscribers -- 471,200
whom received it as part of their paper subscription and 227,000 who paid
solely for the online access.
Perhaps more significantly, the move also opens up a
significant chunk of the Times online archives, which hold nearly all
its content since the 1800s. The 1851 to 1922 and 1987 to present
archives will be offered free of charge.
The only downside is that the 1923 to 1986 archives are
only available via purchase in single or 10-article packages.
Additional tools for personalizing and customizing your Times
account are also made available for free.
Free is the best price in most people's mind and the Times
is setting a positive example by finally making most of its content available
free of charge. The Times’
faith in advertiser revenue is similar to the spirit embodied by SpiralFrog, a
free online music download service which launched
yesterday, paid for solely by ad support. As more legal free content
proliferates through various web firms, the internet is transforming the modern
business model and businesses are learning -- sometimes free can actually make
money.