Wall Street Journal to start accepting front-page ads

Last month, the New York Times announced that it would begin accepting paid ads for the front page of its business section. Today, the Wall Street Journal took the concept a step further and announced it would start accepting ads on the front page of the paper beginning later this year.

In a release, Journal said the ads would begin in the third quarter of 2006.

The release stated, “The ‘jewel box’ ad space will be available in the lower right hand corner of the front page of the Journal Monday thru Saturday, and will provide advertisers with a unique, high-impact opportunity to reach the world’s most influential newspaper audience.

“‘As we and marketers have reviewed the role of different media, it’s clear that there is no more powerful medium for brand and product marketing than high-impact print advertising,’ said L. Gordon Crovitz, executive vice president, Dow Jones and publisher, The Wall Street Journal. ‘The front page of The Wall Street Journal will provide the greatest opportunity available anywhere, in any medium, for advertisers seeking to reach a large, affluent and influential audience.’

“In 2006, The Wall Street Journal advertising revenue was up 14.2% through May driven by significant gains in the Monday through Friday editions as well as with the success of Weekend Edition.”

The Journal began with ads on its section fronts starting with Money & Investing on Sept. 17, 2005. In October 2005, the Journal introduced front-page advertising on its European and Asian editions.

The press release can be found here. I see that the New York Times has a story on its Web site about the decision. That can be found here.

First, newspapers cut stock listings. Now, they’re taking editorial space and giving it to advertising. What’s next?