TechCrunch reported this morning that the New York Times may unveil a local neighborhood blog project this upcoming Monday. The Brooklyn neighborhoods of Fort Greene and Clinton Hill will be one of two pilot neighborhoods. Users of NYTimes.com will be invited to report neighborhood matters including "...cultural events, bar and restaurant openings, real estate, arts, fashion, health, social concerns and anything else that goes on in the ‘SoHo of Brooklyn.’"
This new initiative can be likened to CNN's iReporters site, which also encourages the public post news stories. How this changes the nature of news reporting still waits to be seen, but it appears that both initiatives will attract more eyeballs, and in turn, more advertisers to their sites. Still, whether or not this can be a sustainable revenue model is anyone's guess. Will small, local advertisers finally be able to advertise on the coveted pages of the New York Times - space traditionally reserved for big name brands? Will the operational costs of running the local sites be recouped? How will the New York Times define "all the news that's fit to print?" Will the paper's brand and image take a hit? Again, the answers can only be guessed at this point.
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