The New York Times, a widely read newspaper also known as the â€œOld Gray Ladyâ€, has decided to cancel its pay-for-access system to some news columns and make it accessible to all online readers.
It means avid readers donâ€™t have to pay $49.95 annually or $7.95 per month just to read the articles from popular columnists like Thomas Friedman, David Brooks, and Gail Collins.
Apparently the existing marketing plan limits its online advertising revenue potential. Although it is generating about $10 million annually, the company admits they failed to consider the impact of massive indirect traffic coming from different search engines like Google and Yahoo!
What we have is a win-win solution both for The New York Times and its avid readers. We get to read the finest articles while allowing the newspaper to earn more. Itâ€™s interesting to know how the 227,000 paying subscribers reacted to this recent development.