This summer, the New York Times will begin selling ingredients for recipes from its NYT Cooking website as the newspaper publisher seeks new revenue sources to offset declines in print. The Times is partnering with meal-delivery startup Chef'd, which will send the ingredients to readers within 48 hours. The Times and Chef'd will split sales from the venture.
In recent years the Times has started businesses around live conferences, a wine club and an online store that sells hats, shirts and other trinkets with Times logos. The paper also runs a growing travel unit, "Times Journeys," in which tourists pay thousands of dollars to see countries like Iran or Cuba, many of which are led by Times foreign correspondents. The Times expects meal delivery to be as big as Times Journeys, if not bigger.
The Times going into meal delivery is another example of how the publisher is looking for new ways to make money from its content. But when thinking about ways to save the media business, we sure didn't consider food delivery.
Meal-kit companies have exploded in the past years and it’s more popular than ever. Although, the market for meal-kit delivery is already crowded so the newspaper is not without some hard competition.
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