In its latest concession to the worst revenue slide since the Depression, The New York Times has begun selling display advertising on its front page, a step that has become increasingly common across the newspaper industry."See? We're no worse than the rest of the rabble"
The first such ad, appearing Monday in color, was bought by CBS. The ad, two-and-a-half inches high, lies horizontally across the bottom of the front page, below the news articles and a brief summary of some articles in the paper. In a statement, the paper said such ads would be placed "below the fold" -- that is, on the lower half of the page.
"that speaks to our still relevant standards"
In the past, The Times has printed an occasional front-page classified ad -- two or three lines of text at the bottom of the page. And a few years ago it began selling display ads -- which are much larger and can combine images and text -- on the front pages of sections inside the paper.
"we can do either, or both, for cash. Hey mister, I'll do you good!"
But The Times did not sell displays on the first page of the first section, a move regarded by traditionalists as a commercial incursion into the most important news space in the paper.
Most major American papers sell front-page display ads, including The Wall Street Journal, USA Today and The Los Angeles Times, but some others, including The Washington Post, do not.
*sniff*
The Times would not disclose the rates it charges for ads on the front page. Ordinarily, such space would be coveted by advertisers for its prominence, but it remains to be seen how well it will sell in the current climate, in which ad spending is plummeting.
An ad on a paper's front page "really stands out; it's very attractive," said Beth Fidoten, senior vice president and director of print accounts at Initiative, a media buying firm. Generally, she said, papers do not charge significantly more for that space than for other premium spots, "but the way it's usually done is the advertiser has to make a significant commitment to multiple ads."
The NYT closed at $7.06 today, down from a 52 week high of $21.14, and down from $48.01, four short years ago. Pinch's economic miracle!