The New York Times API: Coming, But Is Revenue?
As ReadWriteWeb reports, the New York Times is working on an API that aims to make the entire newspaper 'programmable'.
From the post:
In addition to the API, New York Times CTO Marc Frons told mediabistro.com that internal developers at the paper will use the platform to organize structured data on the site. Following that, the paper plans to offer developer keys to the API allowing programmers to more easily mash up the paper's structured content -- reviews, event listings, recipes, etc. "The plan is definitely to open [the code] up," Frons said. "How far we don't know."
The effects that this might have could be far-reaching. The NYT is still a morning (and throughout-the-day) mainstay for millions of readers (and bloggers), and giving others the ability to use its content as they see fit may result in even more readership.
But access to content will no doubt be limited. What the NYT really wants is for people to visit its website. Not extract content from it. It's the great Newspaparodox. News has become a commodity. Blogs are beating newspapers to the punch, often because it doesn't have to deal with a bureaucratic fact-checking system (for better or worse). Analysis, features, and 'exclusives' are still the things that set the NYT apart.
The questions that still need to be asked are:
* Will opening up an API result in more readership?
* Can that increased readership be monetized?
* Can this be an additional/incremental revenue stream, or one that just aims to offset losses from the newspaper?
The Times' facebook application has only attracted 1,200 users, but then again, the successful facebook apps tend to skew heavily towards the silly.
'Opening up' is a trend, finally. But trends can become fads very quickly without a responsible business model. If you're a content publisher or media company, the least you should be doing is API-enabling your content. The next thing you should be doing is figuring out how to turn that openness into incremental revenue.
If you're an agency, you should be proactively bringing ideas to your clients that can take this API-mentality to its advertising and brand positioning. And if directly increasing revenue is not your goal, then you should be understanding and explaining how getting more open can yield positive results in other ways. But as in any case, to quote Glengarry Glen Ross, 'never open your mouth unless you know what the shot is.'
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