New York times launches $50 million global digital expansion

Adapt or die. In the wake of Mashable’s mass layoffs and BuzzFeed’s (reportedly) underwhelming revenue numbers, many online news outlets have been left in a full-on panic as to how they can monetize in a media landscape increasingly dominated by mobile apps and the Facebook newsfeed. Over the weekend, The New York Times did yeoman’s work reporting on the online news industry’s travails. So it’s not surprising that the same news outlet is taking steps to up its digital reach. The Times announced that it will invest over $50 million over the next three years to expand its international digital presence, forming a designated team – dubbed NYT Global – to spearhead the effort. Top brass at the Times explained to employees in an internal memo that the publication’s current digital offerings are still designed primarily for a U.S. audience, and therefore exclude an enormous potential audience.

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