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NY new media business grows 50%

By Published on .

Almost 60% of New York new media companies work with advertising and marketing content in some way, according to a study released last week by the New York New Media Association and Coopers & Lybrand.

The second annual study shows New York new media growing 50% over the past 18 months, with nearly 5,000 new media companies or new media divisions of companies operating in the New York metropolitan area.

"This is such a magnet for small firms because there are many established, traditional advertising agencies to work for," said Steve Sieck, Coopers & Lybrand manager of telecommunications and media consulting group

Content design and development companies lead the pack in the types of new media companies in the New York area, followed by content packaging and marketing; content distribution; electronic commerce; software development; and other enabling services.


Another key finding was criteria by which companies evaluate why they choose to be in New York.

In last year's study, companies were more concerned about access to customers and creative and software talent. This year, companies said the most important factors for business were technology infrastructure, image and credibility, and overall costs of doing business.

Copyright October 1997, Crain Communications Inc.

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