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The New York Times’ digital business more than doubled in the past six years

From www.recode.net - May 9, 2017 10:36 AM

The New York Times can thank an uptick in subscribers — specifically digital subscribers — for its positive earnings report last week.

The Times’ digital subscription effort, at first controversial, is now its most important source of revenue growth and shows how it can become a digital-only publisher.

TSo how is its digital business doing overall? For the past six years, Times’ digital revenue (subscribers and ads) more than doubled to $442 million. Print-only revenue fell 18 percent to just over $1 billion in the same period. In 2015 Times’ leadership announced that they aimed to hit $800 million in overall digital revenue by 2020 — a goal that will be difficult at best.

RMost of the digital gains are coming from digital subscribers. From 2011 to 2016, money from people who only pay for its online version rose more than five times, or 418 percent, to $233 million....

Jeff Domansky's insight:

The digital divide is narrowing and digital revenue arrives just in time.

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Scooped by Jeff Domansky

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There are now more Americans working for online-only outlets than newspapers

From www.niemanlab.org - June 10, 2016 7:32 PM

As of March, there were 197,800 Americans working in the “internet publishing and broadcasting” sector versus 183,200 people working for U.S. newspapers.

The BLS data goes back to 1990, and since then employment at newspapers has fallen by nearly 60 percent, having peaked in June 1990 at 457,800 people. The number of newspaper jobs has fallen consistently since then.

Digital publishing, meanwhile, has grown considerably. Throughout much of the early 1990s there were around 30,000 online publishing jobs, though that figure grew to 112,000 by 2000. Then the dot-com bubble burst and the number of jobs shrunk by about half....

Jeff Domansky's insight:

This chart pretty much says it all when it comes to traditional newspapers versus digital media jobs and trends.

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Newspapers Get Slammed Again: Ad Print, Digital Revs Dip

From www.mediapost.com - June 15, 2016 6:04 PM

To paraphrase Oscar Wilde: “The only thing worse than transitioning from a print to digital advertising model, is not transitioning from a print to digital advertising model.”
OK -- Oscar’s version was a lot pithier. But the paradox pretty well sums up the predicament faced by newspaper publishers, who not only must contend with declining print circulation and ad woes, but also face disappointing returns on the digital ad side, per the Pew Research State of the News Media Report.

According to Pew, U.S. newspaper publishers’ total advertising revenue sank 8% in 2015 compared to the prior year, with most of this decline due to continuing drops in print ads, which still make up 75% of total ad revenues, and fell 10% last year.

However, digital, long touted by publishers as the future of the industry, isn’t even close to making up for these drops: Digital advertising actually sank by 2% as well.

(Pew’s estimates for ad revenue are based on its analysis of results from seven large, publicly-traded newspaper publishers; Pew notes that the Newspaper Association of America stopped reporting official revenue figures for the industry back in 2013)....

Jeff Domansky's insight:

Newspapers continued their seemingly irreversible decline in revenue according to the latest Pew research.

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