ALBANY, N.Y. (NEWS10) – On Wednesday, the Times Union has chosen not to extend its naming rights agreement for the Times Union Center with Albany County and ASM Global, as the company focuses on diversifying its market branding and advertising amid rising digital subscriptions.
“We’re in the midst of an evolution at the Times Union that will deepen our impact across the Capital Region and Hudson Valley and expand our ability to report on the diverse communities we serve,” said Times Union Publisher and CEO George R. Hearst III.
Since its last agreement rights signed in 2016, the company has evolved into new markets in the Hudson Valley, investing in its journalism by boosting newsroom staff with increased reach through digital channels.
“We are shifting our focus to reaching new audiences in different ways and doubling down on our commitment to meet our region’s need for high-quality, trusted local journalism,” Hearst said.
“Albany County has had a long and trusted partnership with the Times Union newspaper and we can’t ignore the fact that the pandemic and the move to remote digital technology has changed the business model for many industries, including the county,” said County Executive Dan McCoy.
The company plans to achieve its digital market brand through influencers in increased social media spending, partnerships with local TV stations, and YouTube advertising.
“The shifting environment for advertising and branding allows us to move quickly in promoting our brand throughout the Capital Region in other channels,” said Todd Peterson, VP of Consumer Revenue and Marketing.
“We thank George Hearst and the Times Union for their years of support and look forward to starting a new relationship with another partner,” said McCoy.
The Times Union has had its name on the exterior of the building since 2007.
More from NEWS10:
- Trick or treat: UAlbany men’s basketball welcomes community for Halloween night
- Andy Gresh joins Rosie Langello in studio to breakdown the Patriots first home win of the season
- CDC advisers clear the way for Moderna and J&J boosters, ‘mix & match’ shots
- Alec Baldwin speaks out after deadly movie set shooting: ‘There are no words to convey my shock and sadness’
- Schenectady group wants Lady Liberty statue moved “out of exile”