The Fundamental Problem of Newspapers on the Internet [View article]
While the issue of advertising revs (or lack thereof) is critical, as badgolfer points out above, you cannot sustain those online grow rates when from an editorial standpoint, you are only appealing to 50% of the population (+/- 3%). Sooner or later the advertisers will acknowledge this as well, compare the demagraphics of the typical NYT reader vs. annual expenditures of the typical reader and no doubt advertising revenue will decline even more. I for one get my news from much more "independent" sources so those that advertise on NYT online will never see my business.
The Fundamental Problem of Newspapers on the Internet [View article]