The same week the New York Times began to charge $15/month for subscriptions, the Custom Content Council showed the value of content is rising. According to the Times, people are willing to pay for content, “particularly for a robust package of high quality Times content.”
The wager is that loyal readers value the content provided by the Times enough to support it with their bank account. And really, why should online subscribers get for free the same information that newsstand customers pay for? You wouldn't walk into Starbucks and pick a paper up from the newstand at no cost. You might read the headlines while pouring milk into your coffee, but the headlines will still be available for free online.
Also this week, a new study from the Custom Content Council showed that 87% of chief marketing officers see the value of custom content. Companies are finding that content is an effective way to educate, and sell, to their target market. In fact, 73% of consumers prefer to get information from a company in the form of a collection of articles than an advertisement.
Custom content writers create compelling content that tells a story to engage a target audience. As companies recognize the value of high-quality content, they are more willing to pay for content creation.
NY Times journalists report on the latest trends, breaking news and worldwide events to tell a story to their audience. Both provide value and deserve financial compensation. As consumers recognize the value of award-winning reporting, they may be more willing to support the longstanding giant trying to transition out of a top 10 dying industry. The difference is the reader pays for content from the NY Times and the corporation pays for custom content, sometimes from a content marketing agency.
We agree that content marketing is different from journalism. But, could it be, that content written for a specific brand, whether the NY Times or a company brand, is finally being recognized and rewarded?