It’s a short walk from Time Out New York’s midtown west office to The New York Times’ headquarters. And the weekly magazine appears to have inched closer to the Grey Old Lady’s new media monetization strategy, taking a page out of the year-old deals platform called TimesLimited.
It’s part of Time Out’s digital reboot since Oakley Capital bought a majority stake in the company 11 months ago. Since then, the publication, which is in 63 international markets, says it’s made 60 digital hires while increasingly focusing on mobile apps.
The company seems most excited to join the daily deals fray, where Groupon leads while many publishers test the waters.
Dubbed “Offers and Experiences”, Time Out has partnered with OpenTable (restaurants), Fandango (movies), and Audience View (theater) to offer its web and mobile readers specials around New York City. According to a magazine rep, the publication’s London and Paris editions are also using the deals platform “with plans for further expansion in the future.”
“It’s the first time Time Out…has done anything similar to bookings” in the United States, the rep said via email.
Time Out has also relaunched its website and released an iPad app, while upgrading its iPhone app.
The iPad app uses personalization technology Time Out acquired when it purchased LikeCube in August. According to a statement by the magazine, the app will serve as a “citywide recommendations engine, featuring daily content tailored to individual interests.” Its deals/e-commerce platform is featured on the app.
The iPhone app has been enhanced to better provide users with arts, entertainment, and venue information, Time Out says. It plans to release an Android version in the coming weeks.
GroupM predicts that global ad spend will top $547 billion next year, up from $524 billion this year. While television will still capture the biggest share of that 12-figure pie (41%), digital's share will grow from 31% to 33%.
Brand advertisers and their agencies only want to pay for mobile ads that are seen by a person.
So what makes content go viral? And what makes people participate in these phenomena?
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