NYT targets doubling digital revenues by 2020

• Having freshly passed a milestone of 1M digital-only subscribers, The New York Times Co. (NYT +0.8%) is aiming for doubling its digital revenues by 2020, to $800M.
• “Achieve that and we will secure our journalistic mission for the long term as well as create one of the world’s most successful digital content businesses,” according to a memo from Executive Editor Dean Baquet and CEO Mark Thompson.
• While the company has embraced steps to further distribute free articles, including partnering with Facebook and Apple News, the "main focus" will be on the company's own products, both digital and print.
• Currently, about 12% of the organization's digital readers generate 90% of digital revenue.