General Manager, Digital Media, New York Media
New York Media Has Seen its Web traffic continue to riseâ€”up 50 percent in both unique visitors and page views from June 2007 to June 2008, with an average of over 5 million unique visitors and 40 million page views per month. And the company just completed the acquisition of Menupages.com, giving New York Media a dominant 70 percent share of the New York City restaurant listings market, according to Michael Silberman general manager, digital media.
One of Silbermanâ€™s strategic initiatives heading into 2009 is to expand Menupages beyond the current eight marketsâ€”New York, Chicago, Boston, Philadelphia, Washington, D.C., San Francisco, Los Angeles, and South Floridaâ€”to create opportunities for local ad sales, direct marketing for national advertisers and content expansion outside of New York.
â€śI think success depends on understanding the importance of digital while continuing to maintain the editorial and economic health of print properties,â€ť Silberman says. â€śThe companies that get it and are able to successfully execute a digital strategy will succeed; the companies that donâ€™t understand it or canâ€™t execute will fall behind.â€ť
Specifically, Silberman wants to grow NYMag.com in key verticalsâ€”â€śnews about the people and industries that matter to New York;â€ť restaurants and food; entertainment and culture; fashion and shoppingâ€”for both a local and national audience. (Interestingly, 65 percent of NYMag.comâ€™s audience comes from outside the New York market, Silberman says.)
The company is expecting growth across all categories of its digital business. â€śDespite the overall economic slowdown, we continue to see more digital RFPs with higher dollar amounts,â€ť he says. â€śAnd weâ€™re seeing clients who had only been interested in print making the move into digitalâ€”most often with incremental dollars rather than shifting spending from one platform to another.â€ť
Aside from its strategic goals, Silberman says the company will continue to invest in improving our technical infrastructureâ€”â€śall the non-sexy stuff that will make us more nimble and able to get new site features into the market faster.â€ť
STRENGTHS: New Yorkâ€™s award-winning Web site has the infrastructure in place making it nimble enough to move quickly.
WEAKNESSES: If the economy doesnâ€™t improve, some of its strategic goalsâ€”like expanding its newly acquired Menupagesâ€”might not be possible.
OPPORTUNITIES: Silberman says 65 percent of nymag.comâ€™s audience resides outside of New Yorkâ€”giving it a national audience to leverage on the sales side.
THREATS: Other magazine companies could â€śfinally wake up and start to really compete for digital ad dollars.â€ť
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