NY Times debuts front-page ad; new revenue source

Jan 5 04:52 PM US/Eastern
AP Business Writer Write a Comment

NEW YORK (AP) - The New York Times, facing falling ad revenue like other newspapers, on Monday became the latest paper to run graphical advertising on its front page.
The Times already has been selling such ads on the front pages of its business and other sections since 2006, and it has run tiny classified text ads on the front of its main section before. Graphical advertising, known as display ads, on the main front can command even greater prices, given the visibility.

"This high-impact placement represents an exciting new opportunity for our advertisers," said Denise Warren, chief advertising officer for The New York Times Media Group.

Although front-page ads might have been unthinkable years ago, today they hardly prompt a blink.

"I don't know how sacrosanct that front page is in a newspaper," said Sree Sreenivasan, a journalism professor at Columbia University. "I don't think in this particular economic climate, (you can) hold on to something for the sake of so-called tradition."

Front-page ads were quite common in the 19th century, but they gradually got banished to inside pages as editors pushed to further separate news items from advertising.

Gannett Co.'s USA Today was one of the first modern U.S. papers to carry front-page advertising, starting in 1999. Such ads now run regularly in News Corp.'s The Wall Street Journal and the International Herald Tribune, which is also owned by The New York Times Co. The Washington Post is among the holdouts.

Most newspapers have seen advertising revenue fall as gains in online readership and revenue have yet to offset losses in print. The declines accelerated last year as the recession depressed spending by consumers and advertisers alike.
The Thrifty Nickle was way ahead of the curve on this one. :D