Gannett invests to strengthen product review site, hoping to compete with New York Times wire cutter
Newspaper publisher Gannett Co. has doubled the number of employees on its product review website in the past 18 months, seeking to expand its digital reach as print advertising and distribution revenues suffer continuous pressure.
Gannett’s site, called Reviewed, is directly targeting Wirecutter, a popular product review site owned by the New York Times Co., and BestReviews, a similar rival that Nexstar Media Group Inc. acquired last year for $ 160 million. dollars in cash. Gannett operates more than 250 newspapers, including USA Today.
This surge comes after the boom in e-commerce and the decline in ad spending for some time during the Covid-19 pandemic, increasing pressure on media organizations to seek new sources of revenue and consolidate their digital businesses.
“Revenue has grown 50% every year for the past three years, and our projections for 2021 are roughly the same,” said Chris Lloyd, Managing Director of Reviewed. He refused to provide income in dollars.
Mr Lloyd said the site staff has grown to 80 full-time employees. Most new hires are writers and editors who work in the company’s 25,000 square foot testing lab in Cambridge, Massachusetts. Reviews are posted online at Reviewed.com and on the USA Today Network, which means all Gannett journals can publish articles written by Reviewed. Staff.