Newspaper’s annual report stresses advantages of online over print advertising – and says NYT must compete with tech firms
The biggest challenge for the New York Times at the moment is the transition to digital, according to the annual Form 10-K report handed in by the News Media Group to which the newspaper belongs. The comprehensive summary of the company’s performance states that the New York Times is focusing on becoming a digital multiplatform publisher. It says: “We continue our transition from a company that operated primarily in print to one that is increasingly digital in focus and multiplatform in delivery.” Compared with the 2008 version, the 2009 contains much more detail on the move to digital. Apart from restructuring its cost base and streamlining its operations to minimise the damage from the economic downturn, the report cites three key areas for the NYT to focus on: o Extending the reach of the brand o Strengthening its digital businesses o Diversifying digital revenue streams – the paper is planning to introduce a metered paid-content model.