Most press companies wishing to last longer than print want
to adopt a digital business model.
New York Times has recently announced that it will soon achieve this goal.
The firm has revealed its fourth-quarter and full-year 2018
financials. It demonstrated that the company generated $709 million in digital
revenue last year. This shows that it is on its way to meet the quite ambitious
goal to exceed $800 million by 2020 that it set out in 2015. As such, Times CEO
Mark Thompson laid out a new objective. He wants to “to grow our subscription
business to more than 10 million subscriptions by 2025”. It currently has
4.3 million, counting both digital and print.
Last year, New York
Times has earned $1.748 billion. This means that digital revenue accounted
for a little over 40 percent of the total. Given the trendlines, it will not be
long before this number hits the 50 percent tipping point. It is predicted that
this will be achieved by the second quarter of 2020.
A few years back, a common goal in the newspaper circle was
to be able to make enough money via digital sources to cover the cost of the
newsroom. Currently, the New
York Times can pay for newsroom charges twice over with its digital
revenue.
New
York Times will soon become digital
Comments
Post a Comment