by winston » Tue Jun 26, 2018 7:53 pm
not vested
THE FACE OF MEDIA IS CHANGING
Today, we're checking in on America's "newspaper of record..."
The traditional newspaper business is facing big changes. Since 1987, paid circulation of daily newspapers has dropped more than 50%.
These days, more people turn to their smartphones or tablets to read up on current events. Today, we look at a news company that's adapting to a digital world...
We're talking about the New York Times (NYT). The company has published global news coverage since 1851. Now, it's growing its audience online...
The Times has doubled its digital-only news subscribers over the past two years. More than 2.7 million people have a digital subscription to the New York Times today. And the shift is paying off... Revenues grew more than 7% to nearly $1.7 billion last year.
As you can see in the chart below, this publisher's shares are thriving, too. The stock is up about 50% over the past year, and it recently hit a multiyear high. People will always read the news. And the New York Times is bringing it right to their screens...
Source: Daily Wealth
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