The New York Times Announces New Strategy for Growth

NEW YORK--(BUSINESS WIRE)--Apr. 25, 2013-- The New York Times today announced a series of strategic initiatives, which aim to grow the company’s revenues by leveraging its brand and the power and popularity of its award-winning journalism. Among the planned initiatives are the next phase in The Times’s digital subscription/paid products strategy; an international expansion under the new unified brand; and a renewed emphasis on both video production and brand extensions. These initiatives will begin to roll out in the fourth quarter of 2013 into 2014.

Mark Thompson, the president and chief executive officer of The New York Times Company, said, “We mean to grow our business by launching new products and services based on the unique strengths of Times journalism and by investing in the rapid expansion of existing operations – video and live events are examples – where we’re already seeing strong growth. We want to deepen our relationship with our existing loyal customers, but we also want to use a wider family of New York Times products to reach new customers both here and around the world.”

New products under development as part of the strategy include:

A lower-priced paid product designed to allow access to The Times’s most important and interesting stories in a convenient, media-rich package for consumers looking for an efficient way to stay informed. Consumer research has suggested very strong demand for such a product.
Other new products, also at lower price points, that would offer deep access and additional content and other new features in specific content areas such as politics, technology, opinion, the arts and food.
An enhanced tier that would offer extras at a higher price point to “all digital access” and print subscribers. Subscribers will likely be offered access to Times events and the ability to gift subscriptions and provide full family access, among other incentives.