The New York Times Bolsters Its Subscription Strategy by Acquiring Audio App Audm
The New York Times (NYSE: NYT) announced Monday that it has acquired Audm, a subscription-based audio app that features longform journalistic content read by professional voice actors. Audm works with several publishers, including The Atlantic, Rolling Stone, The New Yorker, and BuzzFeed News, to turn written content into audio pieces. Its key advantage over competing services is its use of audiobook narrators versus automated voice technology.
The acquisition fits within The Times' long-term initiative to boost digital subscriptions as it strives to become a "subscription-first" content provider, with advertising as a secondary revenue stream.
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Source Fool.com
