I’ve written previously here about “slow news.” But I don’t think I’ve ever written specifically about “old news,” and never as it relates to media innovation.
;)
(Photo courtesy of Old News Newsstand)But I love the idea of a new business in New York City called Old News Newsstand. It’s a kiosk that specializes in “sentimental bric-a-brac”: ceramics, maps and guidebooks, quickie and kosher snacks and candy, exotic coffee and sodas, porn, original hand-drawn cartoons, fanzines, and … yes, old news.
The New Yorker magazine recently published a fun article on the business and its owner Aaron Reiss, who proudly touts his catchphrase: “Old News: Still bad, but cheaper and more predictable.”
Reiss told The New Yorker, “A newspaper costs around four dollars, and it’s the quickest-expiring product in the world. Even milk lasts longer. So I was, like, What if I sell old news? That’s free for me, and it’s still good.”
;)
Eclectic global offerings are on the drink menu at Old News NewsstandReiss has found an audience willing to pay $3 for months-old copies of The New York Times — a 25% discount from the new-copy price — and other newspapers and magazines.
He started his business initially to sell his ceramics but added the old papers and magazines to comply with city law requiring sidewalk newsstands to sell periodicals. He’s since become an outlet for fanzine creators and cartoonists who can sell their sketches for $5 each (and out of a garbage can, at that).
Old News Newstand opened this summer, and doesn’t — yet — spin off huge revenue, let along consistent profits. No single item is priced at more than $10. And promotion seems limited to a fun Instagram account. It may not last longer than the old newspapers that are a major draw for the tourists and lookie-lous who supplement that revenue Reiss draws from regulars working nearby looking for a quick snack or drink. But props to adventurers like Reiss who have found innovative ways to profit from truly recycled news.