Some media companies create new revenue streams by launching iPhone apps. But The New York Times Co. is not like all the rest. In an effort to drum up new business, it’s launching a wine club.
The new venture, called The New York Times Wine Club, will offer members a selection of wines at two price levels, $90 or $180 per six-bottle shipment, and customers can choose to have wine delivered every one, two or three months.
Admitting that the wine club is “an unusual brand extension” for the Times, the article went on to say that it was only one of many options the paper had considered.
“Newspapers don’t have the same revenue sources that they used to,” Thomas K. Carley, senior VP of strategic planning for the Times Co. told the paper.
To avoid any appearance of conflict, the club will not be affiliated with the paper’s food and wine sections, although the the club’s Web site will feature Times wine stories and “members will receive booklets of Times recipes from its archive meant to be paired with each shipment of wine,” the article explained.
What other revenue sources could the paper seek out next? Pairing up with travel agents to provide Times-approved trips? A line of practical luggage and briefcases? New events and conventions featuring Times writers and editors? An innovative iPhone app?
Okay, some of those ideas are more practical than others. Can you think of any more?