The NYTimes.com has opened up a self-serve ad system for businesses who want to advertise on its hyperlocal sites. The Local, which consists of citizen-j blogs focusing on five neighborhoods in New Jersey and Brooklyn, will charge $5 CPMs for the ads. In a post on The Local (via Nieman Lab), Jim Schachter, the NYT’s editor for digital initiatives, writes “thats just this side of free.”
While general run-of-site rates on NYTimes.com start at around $30 CPMs, a NYTCo (NYSE: NYT) rep told us that to attract small, “mom & pop” businesses, the newspaper site will offer self-service rates of between $8 and $12 after the launch period. The campaigns are capped at “a few thousand dollars,” the rep said, with most running about several hundred thousand.
When the NYTimes.com introduced the hyperlocal news sites in Febuary, executives had already been eying ways to attract the kinds of small-business marketers, such as plumbers and pizza parlors, that many newspaper sites had left to the online directories. Considering the huge financial challenges facing the NYTCo, which reports its Q2 earnings Thursday morning, any incremental advertising at this point is welcome, even if not immediately consequential.
By David Kaplan