Wirecutter Helps to Roll in Publishing Revenue
Wirecutter is a buyer’s guide to the best gadgets and gizmos. They review and test products themselves before writing extensive articles on their findings and encourage readers to purchase and try out the items for themselves. These reviews are embedded in other ecommerce sites such as Amazon who get a cut for every purchase made through Wirecutter.
The New York Times recently acquired Wirecutter and its sister site The SweetHome for roughly $30 million. New York Times has recently moved to lifestyle journalism and therefore believes Wirecutter complements their company’s ideals well.
Mark Thompson, the chief executive of the Times Company, commented on the acquisition saying, “their service-focused guides align with our commitment to creating products that are an indispensable part of our readers’ lives.”
As it becomes increasingly difficult for publishers to make money off of content advertising, The Times hopes to see an increase in revenue with their new successful company. Steven Kotok, previous president of Wirecutter, says he laughs when people say Wirecutter is a good way to make money.
That is not the way the employees of Wirecutter see it. They are not as focused on making money as they are on providing quality content. This is the lens all advertisers and publishers should look through by providing consumers with what they actually want.