• by Ray Schultz , August 20, 2024

Condé Nast has signed a multi-year agreement with OpenAI to ensure “proper attribution and compensation for use of our intellectual property,” CEO Roger Lynch announced on Tuesday. 

The arrangement will “expand the reach of Condé Nast’s content.” Lynch adds. 

This is yet another big agreement for OpenAI: It has also signed deals with Dotdash Meredith, News Corp., Financial Times and Axel Springer. However, it is also being sued by several entities, including The New York Times and the New York Daily News and other Alden Global Capital publications. 

“Over the last decade, news and digital media have faced steep challenges as many technology companies eroded publishers’ ability to monetize content, most recently with traditional search,” Lynch notes. “Our partnership with OpenAI begins to make up for some of that revenue, allowing us to continue to protect and invest in our journalism and creative endeavors.”

Terms of the arrangement were not disclosed, but the News Corp. arrangement with OpenAI reportedly is worth $250 million. 

OpenAI has shown that it is OpenAI is “very committed” to supporting journalism, Lynch adds. 

“They have been transparent and willing to productively work with publishers like us so that the public can receive reliable information and news through their platforms,” he says.