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Lam said that he decided to sell The Wirecutter because he wanted the site to have the infrastructure and support of a larger organization. That means that of every 100 people who click a link to Amazon, 15 of them make purchases. The Wirecutter’s conversion rate is particularly high, at about 15 percent. He said that the site is projected to generate about $200 million in sales this year, which would put its revenue around $10 or $20 million. The Wirecutter’s business is financially successful, according to Lam. In the case of Wirecutter, we’re adding a new revenue stream.” “We have multiple, advertising and subscription being both of them. “The beauty of working here is that we don’t have just one revenue stream,” French said. Though much of the Times’ digital products are meant to drive subscriptions, French said that the Times has no plans to put The Wirecutter’s recommendations behind the paper’s metered paywall or otherwise limit it to subscribers. One thing that readers should not expect is to find The Wirecutter behind a paywall. You can imagine Cooking or the Food desk doing a big grilling special and imagine them working closely with The Wirecutter and Sweethome to make sure that they’ve got the latest updated recommendations that are relevant.” We feel like if you’re on that page, it makes perfect sense to provide that kind of information to readers. “And the Sweethome has great knife recommendations.
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“We have instruction-like guides on Cooking that help people learn how to cook and among those guides, are guides to, you know, sharpen people’s knife skills,” he said. The Food desk and the NYT Cooking app, in particular, are ready to collaborate with The Sweethome, which has extensively reviewed kitchen tools.įrench offered an example of how The Sweethome could work with NYT Cooking and the Food desk. The Times’ business news desk has worked with The Wirecutter in the past on guides to wi-fi routers and cord-cutting.
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The Times is also looking to integrate Wirecutter recommendations with its current lifestyle coverage. “The Times is excited to invest in them and think we can apply their approach for product recommendation to a lot of different spaces that they’re not currently in,” French said, though he would not elaborate on what those new spaces might be. The Wirecutter and its sister site The Sweethome cover technology products and housewares, respectively, but the Times is looking into adding new verticals covering other product categories.
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So what can readers expect from The Wirecutter, now that it’s owned by the Times?įor one thing, new verticals. It’s already listed a slew of new job openings and is actively exploring ways to both expand its scope and collaborate with the Times newsroom. French is now the interim general manager of The Wirecutter and its sister site The Sweethome.įrench, who will serve as The Wirecutter’s general manager for the next four to six months, said that the Times wants to invest in its new property immediately. On Monday, the Times acquired The Wirecutter in an all-cash deal for more than $30 million. No one at the paper opposed the deal, French said, and many of the most enthusiastic proponents of the deal came from the newsroom - including executive editor Dean Baquet and Food editor Sam Sifton. I want to work with you.’ For me, it was love at first sight,” French recalled.įrench made his case to an executive committee at the Times, which supported the idea. “The first day I ever met him, after spending an hour or two with him, I was like, ‘We should buy you. French came away from the meeting convinced that the Times should buy The Wirecutter. Will Bardeen, the Times’ head of strategy, helped set up a meeting between French and Brian Lam, the founder of The Wirecutter. The cut varies from about two to 12 percent, depending on the product. The site, and its sister site The Sweethome, generate revenue through affiliate links when a reader clicks a link to purchase a product that the site recommends and then makes a purchase, The Wirecutter gets a cut of the sale. The Wirecutter is a well-respected product recommendations site, founded by former Gizmodo editor Brian Lam as part of The Awl network in 2011.