NYT, BBC Adopt Start-Up Thinking
Once the bastions of ‘old media’, US newspaper the New York Times (NYT) and British broadcaster the BBC are now embracing 21st-century start-up culture.
The NYT has just launched TimeSpace, an initiative enabling entrepreneurs and early stage businesses to work collaboratively with the NYT inside the paper’s offices. On the TimeSpace website, the NYT explains its reasoning: “Our core purpose remains to enhance society by creating, collecting and distributing high-quality news and information. We want to push ourselves and push others to find the best ways to do so, and we believe that TimeSpace can be a part of that process.”
Meanwhile, BBC Worldwide has been running a similar project called Labs, a business accelerator for start-ups, since summer 2012. BBC Worldwide this week announced its first commercial deal with one of the participating companies, Foodity – an e-commerce platform for recipe publishers.
Where the BBC and the NYT lead, others will no doubt follow. It’s becoming increasingly crucial that brands absorb some start-up thinking into their company strategies, as markets are disrupted by ever-more agile and fast-moving digital businesses. We discuss this concept further in our breakdown of 2013's Culture & Media Influences.