The New York Times Company is betting its focus on visual journalism will boost digital growth.
Last month, the NYT said it will invest $50 million over the next three years to increase its digital audience around the world.
According to Bloomberg, the newspaper generated $400 million in revenue through online advertising and subscriptions in 2014 and aims to bring in $800 million by 2020.
Digital Publishing Headcount Passes Newspapers
For the first time in history, the number of employees involved in digital publishing has surpassed the number of employees in the legacy newspaper business, according to the latest figures from the government’s Bureau of Labor Statistics.
This milestone reflects both the rapid growth of online media and the steep, steady decline in the print newspaper industry.
In February, the total number of employees in U.S. digital publishing reached 197,200, per the BLS, up from 193,500 the month before and 178,900 a year previously. Total employment in the newspaper industry dipped to 184,800, down from 196,100 during the same month a year previously.
At NewFronts, Hearst Turns Another Page
The effort to marry live events to online video got a new addition at NewFronts when Hearst Magazines Digital Media unveiled plans for a “Magic Mike Live” stage show in Las Vegas that will be supported by a Cosmopolitan-fronted video series.
Other new video ideas (and some already existing projects) showcased included Bazaar-fronted “Unbridaled,” which dresses brides in unconventional gowns; “Beautiful Nights,” a make-up series; “The Younger Games,” which delves into all the ways women try to make themselves look younger,” and from Esquire, the humorous “How To Be A Man with Frank Kobola” and “Who’s That Guy” that delves into the style and substance of famous dudes in the form of a game show/talk show, hosted by Esquire’s new editor-in-chief, Jay Fielden.
Vimeo Buys OTT Video Platform
Financial terms of the deal were not announced, but Vimeo said the deal will shore up its ability to build and develop subscription VOD channels for its broad base of content creators, including niche programmers and major media firms, on a global basis.
OTT to be ad-led in the short term in India
A few days ago, Hong Kong-based advisory, research and consulting firm Media Partners Asia came up with a report on online video revenues for the Asia-Pacific, which it said will touch $35 billion by 2021, at an average annual growth of 22%.
According to the report, China will remain the largest market, accounting for 76% of the revenue for the Asia-Pacific. Japan, Australia, Korea and India will also be significant, accounting for 17% of regional online video revenue by 2021.
The report, titled Asia Pacific Online Video Distribution, covered 14 markets, tracking the growth of advertising- and subscription-based online video, as well as mobile and fixed broadband. The numbers start to look interesting when Mihir Shah, vice-president (India) at Media Partners Asia, shares the India-specific details. In Shah’s view, India’s online video market will contribute $1.2 billion in revenue by 2021. The advertising video on demand (AVoD) services will see a compound annual growth rate (CAGR) of 38% between 2016 and 2021, while the subscription video on demand (SVoD) services will see a higher CAGR at 64% for the same period, he points out.