'N.Y. Times' iPad Ad Chases What Matters: A Cool Million

By: E&P Staff Chase paid about $1 million for its charter sponsorhsip of the New York Times iPad app, according to TBI research analyst Rory Maher.

The ad for the bank's Chase Sapphire rewards credit card is an exclusive three- to six-month deal that is "part of a larger media commitment," TBI said.

"While this number is respectable ($1 million to sponsor an app no one has seen yet isn't bad), it certainly won't be enough to sustain any softness in print advertising during that 3-6 month period," Maher wrote. " As a point of emphasis, the $1 million in sponsorship is equal to about 0.04% of the New York Times Company's overall annual revenue."