| In the background of media convergence, when domestic newspaper companieswere talking about a hot topic on how to transform and upgrade, the new York timescompany which is over100-year-old, had begun a series of innovations in the impact ofbroadcasters, television channels, websites and financial markets, and had finallyfinished the transformation from a traditional newspaper company to a globalmultimedia news and information company. That gave us a sample of transformationand upgrading.This case study gives a detailed description of the transformation process of theNew York Times company in recent50years, and in the framework of social capitaltheory, the study emphasizes the important move: Times digital subscription packages.Then sums up two stages in the process, and they are convergence in property,convergence between newspaper and website. There are three important innovativeactivities during the two stages, that is taking the newspaper company public, adoptingnew technology to reform the mode of operation and news edit, launching digitalsubscription packages on digital platforms to balance the revenues between advertisingand circulation. The three innovative activities altogether promote the convergence, sois summarized as convergent innovation, namely the process of innovation for the mediaconvergence is mutually implemented by several innovation stages. It is the lastinnovation stage that decide what kind of the convergent innovation is. The lastinnovation is launching digital subscription packages, fulfilling the goal of multimediaconvergence.Considering the deficiencies of Chinese newspaper company in financing andtechnological innovation, the study gives some strategy-based suggestions. Firstly, strengthen the collectivize development which is beneficial for finance; Then acceleratethe convergence speed of newspaper’s websites construction to change the revenuemode. Last but not the least, increase the social capital through drawing moreaudience’s attention. |
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