The newspaper business is in shambles for the past two decades, following countless advancements in technology, which usher in the digital age. Nowadays, smart devices are all-in-one gadgets. The internet is privy to everything people want to know, as well as services people want to avail of. And newspaper subscription has shifted more into the digital space for the last couple of years.
Physical publications have become less tangible, and they are now more visible in the screens of computers, smartphones and tablets, as they report decreasing numbers of subscribers. While this may be the case for many publications, The New York Times seems to be on a different boat altogether. At 164 years old, the publication has claimed that it has more subscribers than ever before.
According to Wired, New York Times has over 1 million digital-only subscribers, and it has over 1.1 million print-and-digital subscribers. This is said to be the biggest number of customers the publication has ever had in more than one and a half centuries. Also, editor Dean Baquet claims that unlike other publications, New York Times has not cut on the work force, saying it employs the same number of reporters now as it did 15 years ago.
Baquet added, "and our ranks now include graphic editors, developers, video journalists and other digital innovators who are making our digital offerings ever richer." The Times' more than 2 million-strong subscribers are what help support journalism, as the publication is not solely reliant on ads. Despite the seeming success, however, majority of the Times' audience access the publication without paying.
The New York Times has over 57 million monthly unique visitors, majority of which do not pay for access. The Times said that its earnings this August has fallen, but at the same time, opportunities for the business to grow remain afloat. The New York Times has announced partnerships with tech giants such as Apple and Facebook. And on Tuesday, it has also renamed its "Times Premier" subscription to "Times Insider," for subscribers who pay an additional $8 for access to journalists and live events, etc. every month.