December 13, 2010 § Leave a comment
Move on over to irrelevancy, New York Times Co.
Well perhaps not to irrelevancy, but to the corner where all the other slightly less relevant companies sit.
That’s right fellow media junkies, NYT Co. is no longer a crown jewel of the S&P 500, which lists the top 500 American companies (though it’s not strictly a U.S. list as some multinational companies also make up the S&P). According to Mashable, the New York Times Co. is out and Netflix is in.
Netflix, the Blockbuster-esque company that first made strides with its video rental services via postal mail, has since expanded to the popular option of video-streaming which requires no red paper envelopes. Other video-streaming companies like Hulu are also cashing in on the convenience of the web.
The New York Times will now be on the S&P MidCap 400, which lists the median range of US stocks. It’s not the slums, but it’s not the elite either, and for a company that has built its reputation as the finest paper in the U.S., it’s a hard economic reality to swallow.
The Times is also set to unroll its paywall on its http://www.nytimes.com site sometime within the next few months. Forbes recently reported that the Times is serious about its paywall and is taking a Financial Times approach to the overhaul as opposed to WSJ’s porous wall where users can access articles for free via a quick google search.
I remember first reading about the Times paywall on its website last January with a bit of incredulousness. Even as someone who plans to go into the industry in the next couple of years, the idea of being charged for the NYTimes bothered me.
There’s no doubt that my life would be different as a j-school student if I didn’t have access to the Times. It was the first newspaper I started to follow on a consistent basis and it set off my growing love affair for print, which has since expanded to other major dailies. But as a college student, the idea of paying hundreds a year for a subscription really really hurts. It not only hurts, but I’m beginning to wonder whether I’ll be able to actually afford the Times.
I shiver in anticipation as I await for more details to roll out. But for now, I’m pretty much at the mercy of the Times. Their sweet, no-longer-free, high quality, journalistic mercy.
So, what say you, fellow blogosphere warriors–will you be shelling out some cash for the Times online? Do any of you subscribe to the Times in print and will you continue to do so?