SEATTLE and NEW YORK — While the threat of having to collect state sales tax still looms, Amazon.com continues to find new revenue sources. The company announced Tuesday that it will become the largest third-party seller of Hearst magazine subscriptions through an expanded agreement with Hearst Corp. Inc. (NASDAQ: AMZN - News) and Hearst Corporation today announced that the two companies have entered into an expanded, multi-faceted consumer marketing, e-commerce and content relationship.
The deal gives Amazon customers access to content from one of the world's largest publishers of monthly magazines and provides Hearst access to Amazon's growing and evolving e-commerce platform, according to a statement released by the two companies.
David Carey, president, Hearst Magazines, commented: "This bridge between one of the best platform and technology companies and our premier media and content company gives Hearst and Amazon a launching pad to take both our businesses to the next level. Amazon values exceptional content and we are excited about the possibilities. We look forward to working with the Amazon team."
Hearst said it expects its magazine subscriptions sales via the Internet to expand with the agreement.
To date, Hearst has sold more than four million magazine subscriptions via the Internet and expects to increase its sales via this expanded agreement.
Hearst, which publishes such well known magazines as Good Housekeeping, Cosmopolitan and Elle, also owns 15 daily and 38 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union. In addition, the company owns several cable networks including Lifetime, A&E, History and ESPN; as well as business publishing, including a minority joint venture interest in Fitch Ratings; Internet and marketing services businesses, television production, newspaper features distribution and real estate.