I thought this news announcement was particularly interesting in light of our discussions of the challenges faced by traditional publishing and media companies.
The PR news release is available here.
The following is from NY Times (Feb 15, 2007).
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The New York Times
February 15, 2007
Times Company Forms Alliance With Job-Listing Web Site
By MICHAEL J. de la MERCED
The New York Times Company and Monster Worldwide, the operator of the popular job-listing site Monster.com, announced yesterday that they were forming an alliance to share brands on the newspaper company’s career sites.
The deal is the latest collaboration between newspaper companies and Web sites to form partnerships to battle other rivals. For newspapers, it means making deals with companies once seen as enemies that were undercutting print classified advertising revenue. For online companies, it offers a way to tap local job markets as well as link with highly visible brand names.
Last November, Yahoo reached a deal with seven newspaper chains that integrates their job listings with the company’s HotJobs search technology. Three of the largest newspaper chains — the Tribune Company, the Gannett Company and the McClatchy Company — own CareerBuilder, among the largest help-wanted sites. And Yahoo’s archrival, Google, has signed a deal under which it will sell advertising space in 50 newspapers, including The New York Times.
Beginning in March, 19 of the Times Company’s properties, including The Times, The Boston Globe and its various regional papers, will introduce Web sites featuring the Monster brand. Beyond sharing search technology and databases of résumés, the companies said they would introduce features like “click to print,” through which employers can have their online job postings published as ads in Times Company newspapers.
“The combination of technology, reach and expertise created by this strategic alliance is extraordinary,” Janet L. Robinson, the chief executive of the Times Company, said in a statement.
Terms of the deal were not disclosed, but Abbe Serphos, a Times Company spokeswoman, confirmed that it included a revenue-sharing component.
Shares of the Times Company rose 59 cents, or about 2.3 percent, to $25.75, on the New York Stock Exchange yesterday, and Monster gained 91 cents, or about 1.7 percent, to $53.63 on the Nasdaq.
Douglas E. Klinger, president of Monster North America, said that his company first approached The Times last fall as part of its broader effort to form alliances with major media outlets. Since last summer, Monster has struck deals with more than 60 daily newspaper sites and 8 television properties, he said.
The deal allows Monster to tap into local markets, which are still one of newspapers’ strengths, while giving consumers better access to nationwide job opportunities, Mr. Klinger said.
“When you combine the leader in media with the leader in Internet job sites, you’ll get great results,” he said.
Both the Times Company and Monster have played down the threat of free job-posting sites like Craigslist, focusing instead on the extra offerings and relationships with employers that their sites bring.
“This alliance is about the strength of the New York Times Company brand and local market penetration combined with Monster’s expertise, recruitment tools and brand strength,” Ms. Serphos said. “This is part of our long-term strategy to build our online recruitment product offerings and revenue.”
I believe that one of the main changes in in digital media & entertainment is the separation of up and coming talent from traditional routes to success and fame. With websites like Garage Band and Epitonic allowing unsigned and/or unknown artists to post songs to an audience of audiophiles, the artists no longer need to rely on major-label records like Sony and Columbia to make their dreams come true.
onsumers across the world.
