Chase Paid $1 Million To Sponsor The New York Times iPad Application

nyt iPad grab

Chase Bank paid the New York Times $1 million to sponsor its iPad application, according to Rory Maher, analyst at TBI Research.

Read the entire report here.

He says the app sponsorship was part of a larger ad deal with the Times, and this sponsorship is an exclusive 3-6 month deal.

Considering the iPad had zero users a week ago, that’s a pretty impressive starting point for a sponsorship of an application.

Bigger picture though, this is just 0.04% of the New York Times Company’s overall annual revenue, writes Rory. And any revenue from iPad applications won’t be enough to make up for lost print ad revenue.

Rory spoke with other advertisers that were looking at iPad applications. Advertisers are mostly waiting to see what sort of audience forms. Rory says, “Until iPad applications reach large audiences, initial sponsorships will remain fairly immaterial.”

See Also: 10 Things We Love And Hate About The iPad

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