The New York Times will receive nearly $100M from Google over three years

According to people familiar with the matter, the New York Times is receiving nearly $100 million from tech behemoth Google over three years as a part of an extensive deal allowing the Alphabet subsidiary to feature NY Times content on some of its platforms.

Earlier in 2023, the esteemed publisher announced its agreement with Google, which it labeled as an extended deal that included content distribution and subscriptions, as well as using Google tools for marketing and ad product experimentation, subscriptions, and content distribution.

The agreement with Google provides the NY Times with an additional revenue stream when other news publishers are bracing for an ad market slowdown. The firm posted revenue of $2.31 billion in 2022, up 11% from 2021. 

The new revenue driver more than offsets the revenue the news publisher is set to lose after Meta Platforms in 2022 told publishers it wouldn’t renew contracts to feature their content in the Facebook News tab. It was reported that Meta had paid the NY Times an annual fee of a little over $20 million as part of the previous agreement.

The new deal will see the NY Times participate in Google News Showcase, a product that pays publishers to feature their content on Google News and a few other Google platforms.