NYT Moves Further Into Tablet Space With About.com
After launching its fashion app for iPad a couple of weeks ago, New York Times (NYSE:NYT) is now undertaking an effort to turnaround its lifestyle news site About.com, which saw a +20% decline in revenues for Q3 2011. [1] NYT has recently started providing content from About.com on Flipboard, [2] a social magazine dedicated to Apple’s (NASDAQ:AAPL) iPad.
Mobile Penetration Essential to Improve Ad Monetization
With global iPad shipments crossing 11 million units in Q3 2011 alone (around 67% of global tablet shipments), [3] media tablets are destined to fast become a preferred choice for advertisers. Additionally, digital journalism companies like NYT are fast losing out to social media, namely Facebook, as far as web traffic and revenue-per-page view are concerned.
Similar to its consolidated fashion iPad app, About.com’s presence on the Flipboard should guarantee more unique visitors to its dwindling traffic in the least. NYT is planning to provide around 50 articles from different lifestyle categories, and the company would also be hoping to attract related display advertisers to this content.
We currently have a price estimate of $7.50 for NYT’s stock, which is around 14% above the current market price.
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