May 6, 2016
By: Daniella Soloway
The New York Times is partnering up with food delivery startup Chef’d to sell and deliver ingredients from its NYT Cooking website to readers. Those requesting ingredients will receive them within 48 hours of their purchase, and the two companies will split the revenues.
Last year, advertising and circulation accounted for 94% of NYT’s total revenue, but with print slowly being edged out of the market by digital accounts, the publisher is finding new ways to generate profit. The latest food service adds to a list of its already unconventional methods that include a travel unit, wine club and online store.
NYT Cooking has over 17,000 recipes, and approximately seven million monthly active users. The Times has 1.36 million subscribers digitally.