- The New York Times (NYT +0.3%) is shutting down its NYT Now app, a year after it changed its approach to the app's cost and after it never really took off as the company expected.
- The company launched NYT Now in 2014 at a cost of $8/month, intended to be a sleeker offering of its news products at a lower price. But only about 20,000 signed up vs. a hoped-for 200,000, and the company changed it to a free, ad-supported app.
- NYT doesn't need a "separate lower-priced or limited free offering in the marketplace to drive growth," say the company's Kinsey Wilson and David Perpich in a staff memo. It will focus on its main NYT products and "targeting younger readers where they often are: on social platforms."
New York Times closes down NYT Now app
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