Starting this summer, American newspaper New York Times will start selling ingredients for recipes it posts on its website. To that end, it will collaborate with start-up Chef’d, which will take care of the deliveries.
New revenue stream
Customers ordering ingredients on the New York Times website, will get those delivered on their door step within the next 48 hours by Chef’d. The revenue will be split between the newspaper and the meal delivery service. The New York Times is trying to find new revenue streams to counter the lower paper sales: newspaper sales and advertisements contributed 94 % of total revenue and if the paper wants to survive, it needs to lower that share and lower its dependency on these two sources of income.
NYT Cooking, New York Times’ cooking website, has seven million active users, browsing through 17,000 recipes. Starting this summer, the new recipes’ ingredients will also be on sale and there is a a subscription service as well, which automatically ships ingredients on a regular basis.
