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New York Times CEO: Print Journalism Has Maybe Another 10 Years

New York Times CEO Mark Thompson believes that the newspaper printing presses may have another decade of life in them, however no longer a lot more. “I believe at least 10 years is what we can see in the U.S. for our print products,” Thompson said on “Power Lunch.” He stated he’d love to have the print version “survive and thrive as long as it can,” however admitted it could face an expiration date. “We’ll decide that simply on economics,” he stated. “There may come a point when the economics of [the print paper] no longer make sense for us. The key thing for us is that we’re pivoting. Our plan is to go on serving our loyal print subscribers as long as we can. But meanwhile to build up the digital business, so that we have a successful growing company and a successful news operation long after print is gone.” CNBC reviews: Digital subscriptions, if truth be told, is also what is preserving the New York Times afloat for a brand new era of readers. While Thompson stated the selection of print subscribers is rather consistent, “with a little bit of a decline every time,” the corporate stated remaining week that it added 157,000 virtual subscribers within the fourth quarter of 2017. The majority had been new subscribers, however that quantity additionally integrated cooking and crossword subscriptions. Revenue from virtual subscriptions higher greater than 51 % within the quarter in comparison with a yr previous. Overall subscription earnings higher 19.2 %. Meanwhile, the corporate’s fourth-quarter income and earnings beat analysts expectancies, “even though the print side of the business is still somewhat challenged,” Thompson stated. Total earnings rose 10 % from a yr previous to $484.1 million. New York Times’ stocks have risen greater than 20 % this yr. “Without question we make more money on a print subscriber,” Thompson added. “But the point about digital is that we believe we can grow many, many more of them. We’ve already got more digital than print subscribers. Digital is growing very rapidly. Ultimately, there will be many times the number of digital subscribers compared to print.”

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