New York Times Co.NYSE
Thu, Nov. 17, 1:46 PM
- The election's been very good to The New York Times (NYT +0.4%). The paper says it's added a net 41,000 subscriptions in the week since Donald Trump was elected U.S. president.
- That dramatic uptick comes in both print and digital subs, the largest one-week increase since it debuted its digital pay model five years ago.
- Unsurprisingly, the NYT set new traffic records on Nov. 8-10, with readers spending five times longer than usual in the paper's coverage.
- The NYT has added more than 100,000 net new digital subs so far this quarter.
- Meanwhile, in what's seen as a response to Trump's press-bashing this year, subscriptions are also up this week at The Wall Street Journal (NWS, NWSA +0.1%) as well as The New Yorker (10,000 new subs in the three days after the election), liberal standby Mother Jones, and The Atlantic. Nonprofit investigative operation ProPublica has seen a dramatic rise in donations over the same period.
Wed, Nov. 2, 11:24 AM
- The Q3 earnings report for New York Times (NYT +0.2%) featured some more of the same: a drop in advertising even as digital results improve.
- Revenues declined slightly and missed expectations, and adjusted EPS fell as well, to $0.06, but bested consensus. A decline in operating profit was driven by lower print advertising revenues and higher costs (including some severance expense tied to workforce reductions).
- Overall, circulation revenues were up 3%, while advertising revenues fell 7.7% and other revenues gained 1%.
- Print ad revenue fell 18.5%, but digital ad revenue gained by 21.4% to $44M (making up 35.5% of total ad revenues).
- The company added 129,000 digital-only subscriptions (116,000 digital news products, 13,000 crossword product) to hit 1.557M.
- For Q4, the company expects trends to continue: circulation revenues increasing and ad revenues decreasing at a rate similar to Q3. Operating costs are expected to increase in mid- to high single digits.
- Press Release
Wed, Nov. 2, 8:32 AM
Tue, Nov. 1, 7:54 PM
- The New York Times (NYSE:NYT) is amping up its commitment to VR, launching The Daily 360, a project that will offer at least one 360-degree video each day.
- The offering will come with the help of Samsung, which is providing its Gear 360 cameras, and it will be published to NYT platforms (desktop, mobile, VR apps) as well as Samsung's VR content service.
- The NYT has created a wide number of VR films since a launch last year, but "now it’s time to make 360 video a part of the daily news report, as common as text or interactives," says Chief Revenue Officer Meredith Kopit Levien.
- The project will be led by a team of VR leaders in the company's New York newsroom.
Tue, Nov. 1, 5:30 PM
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Mon, Oct. 24, 1:30 PM
- The New York Times Co. (NYT -0.7%) today acquired tech review site The Wirecutter and sister home-product review site The Sweethome, for more than $30M.
- Ex-Gizmodo tech writer Brian Lam founded the sites in 2011 with an eye toward deep product reviews, funded by affiliate links where the sites earned commission on clickthroughs, primarily to Amazon.com.
- “We’re very excited about this acquisition on two fronts," says NYT CEO Mark Thompson. "It’s an impressively run business with a very attractive revenue model and its success is built on the foundation of great, rigorously reported service journalism."
- Lam will stay on as an adviser, and Editor in Chief Jacqui Cheng and Product Director Christopher Mascari will retain those roles. On the NYT side, Ben French will serve as interim general manager.
Wed, Oct. 19, 9:54 AM
- The New York Times (NYSE:NYT) ushered in a new generation of family leadership, naming 36-year-old A.G. Sulzberger deputy publisher.
- The move, effective Nov. 1, sets him up to succeed his father as publisher, and chairman of the company. He'd represent the fifth generation of his family as publisher of the NYT. He prevailed among three candidates (all cousins) for the job.
- A.G. Sulzberger joined the paper in 2009 working as reporter and editor on the metro desk. In 2014 he led a task force that wrote the influential Innovation Report, and since July 2015 he's been associate editor for strategy.
Wed, Oct. 5, 10:51 AM
- New York Times Co. (NYT +0.3%) is getting away from banner ads on its website, and moving to replace them with a proprietary display format designed to work across devices.
- The "Flex Frame" approach will supplant standard banner ads (300x250 pixels, and 300x600 pixels) that run along the right side with dynamically sized horizontal ads running along the top of pages and between paragraphs as well as in other feeds. Google is the first advertiser taking advantage, with ads for its new Pixel phone.
- “There’s a good amount of negativity around the display business in the market now, but it’s a staple for us," says NYT's Sebastian Tomich.
- He adds the company plans to allow advertisers to buy the Flex Frame ads programmatically, hopefully at a premium. And the in-house T Brand Studio can create ads on behalf of clients.
Thu, Sep. 15, 4:51 PM
Thu, Aug. 18, 12:07 PM
- 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."
Fri, Aug. 12, 12:21 PM
- New York Times (NYT +0.3%) has acquired marketing firm Fake Love to boost its branded-content efforts.
- Fake Love's 10 employees will join other efforts in the T Brand Studio, which now employs more than 110 in offering creative services to marketers. T Brand plans to expand to Asia later this year.
- NYT says the acquisition is going to help its burgeoning efforts in virtual reality and augmented reality.
- It accquired social media marketing firm HelloSociety in March.
Thu, Aug. 11, 9:57 AM
- Cutbacks at The New York Times (NYSE:NYT) may extend beyond more jobs, and result in changes to size and scheduling at company publications, the New York Post reports.
- The company could take on ending the Sunday magazine's print edition and sending the book-review section online only, as well as folding the Metro section and leasing space in its headquarters, the Post says: "There's a target number they need," according to a source.
- Job cuts of up to 150 positions could go in 2017, following an existing round of buyouts that's touching several dozen staffers.
- The report is "very badly informed rumor and speculation," the NYT said.
- Revenues fell nearly 3% in the company's Q2 report; ad revenues fell nearly 12% with declines in print and digital.
Thu, Jul. 28, 8:33 AM
Wed, Jul. 27, 5:30 PM
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Wed, Jun. 29, 5:58 AM
Wed, May 25, 11:35 AM
- The New York Times Co. (NYT -0.3%) is offering voluntary buyouts to employees in several business departments as well as the newsroom this month.
- Last week, Executive Editor Dean Baquet had said there would be no plans for layoffs for the rest of 2016 but that the paper would take other measures to cut costs and shift others.
- It's the first round of buyouts offered since an October 2014 announcement that the company planned to cut about 100 newsroom jobs (and then executed layoffs after not receiving enough voluntary buyouts).
- The new moves are part of a continuing shift to digital and to double digital revenue by 2020, a memo from Baquet and Publisher Arthur Sulzberger Jr. stated.