The New York Times Plans to Double Digital Revenue by 2020
New York Times Co. plans to double its digital revenue in the next four years by increasing the number of paid online subscribers and attracting more young and international readers.
The Times generated $400 million in revenue through online advertising and subscriptions last year and aims to bring in $800 million by 2020, Times CEO Mark Thompson and Executive Editor Dean Baquet said in a memo to staff Wednesday.
The Times reached a milestone on July 30 as the number of paid digital subscribers surpassed 1 million. As more people get their news online, especially on smartphones, the newspaper’s print advertising revenue has declined. It fell by 13% in the second quarter.
