The New York Times has struggled with TimesSelect, now they’re killing it. But the news here isn’t that a media giant is giving up on a much hyped online venture. The news is that a media giant is endorsing what we now call web 2.0:

Since we launched TimesSelect in 2005, the online landscape has altered significantly. Readers increasingly find news through search, as well as through social networks, blogs and other online sources. In light of this shift, we believe offering unfettered access to New York Times reporting and analysis best serves the interest of our readers, our brand and the long-term vitality of our journalism. We encourage everyone to read our news and opinion — as well as share it, link to it and comment on it. [Emphasis added.]

If only they’re realized it back when they started it.

web 2.0, web20, NYT, New York Times, TimesSelect, linking, open access

The New York Times last week announced that it’s giving away TimesSelect to students and faculty that hold a .edu email address. TimesSelect, of course, is the paid access site that debuted in January 2006 to a confused and critical web. Editor and Publisher repeated the Times’ claim that they’re doing this for the good of democracy:

“It’s part of our journalistic mission to get people talking on campuses,” says Vivian Schiller, senior vice president and general manager at NYTimes.com. “We wanted to open that up so that college students and professors can have a dialogue.”

But with fewer than 700,000 Select subscribers and declining (zero?) readership among people under 40, NYT clearly had to do something. As Zach predicted, the Times’ Alexa rank has fallen precipitously since the Select launch. Welcome to the Google Economy Mr. Sulzberger.

nyt, new york times, google economy, timesselect