Established in 1851, The New York Times is widely considered the world’s premier daily newspaper. Since its creation, 132 Pulitzer Prizes have been won – more than any other news organization!
Over time, revenue from subscriptions surpassed advertising revenues, while additional sources include news services/syndication, digital archive licensing, building rental income, affiliate referrals, and retail commerce.
What is it?
The New York Times Company, or NYT, was established in 1896. Since its creation, it has become one of the most renowned publications in journalism, though never America’s largest newspaper in terms of readership. Founded by Adolph Ochs and Arthur Sulzberger (both deceased), their descendants hold private ownership over this American newspaper company.
The Times first ventured online in 1994 through a subscription-only service on America Online that provided selected daily articles and cultural news. By 1999, however, color pages had been introduced, and significant modifications were made to its print operations.
At an AllSides Media Bias Survey of over 2,000 people, those self-reporting as having left-leaning political bias rated The New York Times Lean Left; those identifying themselves as conservative or leaning right gave it an equally high Lean Right rating. The New York Times serves as an example of how quality newspapers can impact society today.
What is it like to work here?
This company gives its employees the time and resources they need to investigate a story for months at a time, and this strategy pays dividends – such as when its journalists exposed sexual harassment at companies ranging from film studios to food servers, which led to workplace investigations, criminal inquiries, and ultimately to the #MeToo movement.
It is a leading American newspaper renowned for its investigative reporting and has won multiple Pulitzer Prizes. Furthermore, they have pioneered innovations within media, including founding crossword puzzles and purchasing a classical music radio station.
AllSides’ 2022 Media Bias Survey identified The New York Times with a Lean Left bias rating – AllSides’ highest bias rating for news media sources – reflecting that their news content leans moderately towards the left.
What is it like to be a reader?
Reading is an individual experience. Whether it’s while waiting for an appointment, jogging on the treadmill, or sipping coffee in your favorite chair – reading is something everyone enjoys doing and has its rhythm of engagement with a story. Some find their favorite time is during their commute; for others, it could be in bed; yet others need just those few precious minutes alone in a quiet room where no phone or social media distractions exist so they can enter what athletes refer to as “The Zone,” while yoga teachers refer to as flow.
The Times has consistently strived to foster such an environment throughout its long history. Under Thompson and then Levien as COO in 2015, reader revenue accounted for six out of every ten dollars generated at its core business – as evidenced by Trendline’s graph below. This shift paid dividends.
What is it like to be an advertiser?
As subscriber revenues outstrip advertising revenues at The Times, it has focused on developing ad products that work across its subscription bundle of core news, cooking, games, and sports. Furthermore, Ezra Klein and Kara Swisher were recruited as podcast hosts; this week, Serial Productions, publisher of This American Life, was acquired for $25 Million.
One year ago, The Times experimented with Project Feels ads which place ads near stories that trigger specific emotional responses such as fear or empathy. This approach has successfully driven engagement and revenue for The Times but requires data science and artificial intelligence for successful implementation.
Branded content studio: the Times’s branded content studio works closely with brands and takes an editorial approach when telling their stories. Recently, this unit collaborated with Women in the World host Tina Brown to cover #MeToo movement stories; this collaboration led to affiliate income from Amazon sales of Tina’s book, which gave additional revenue streams outside journalism for The Times.