Amazon (AMZN) will pay New York Times (NYT) $20M-$25M a year to license a broad range of content, The Wall Street Journal’s Alexandra Bruell reports. The annual payment amounts to nearly 1% of the Times’s total 2024 revenue, Bruell writes. The companies announced their AI-related licensing deal in May, giving Amazon access to content from the Times’s news and cooking products, along with its sports property, the Athletic, and Amazon can use the material to train AI models and feature summaries and short excerpts of Times content in its products and services, including Alexa.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN:
- Amazon.com price target raised to $250 from $235 at Wedbush
- UPS price target lowered to $75 from $80 at Morgan Stanley
- UPS price target lowered to $100 from $110 at Susquehanna
- ‘Don’t Rush In Before Earnings,’ Says Investor About Amazon Stock
- Amazon-Backed Anthropic (AMZN) Close to Raising Up to $5B at $170B Valuation