Mark Thompson who is the CEO of the New York Times told CNBC on Monday that the printing presses for newspapers have only a little life left which might be just about a decade more before they completely die out. Thompson said at a Power Launch that he is of the viewpoint that at least the years of time is what he can see in the United States for print products. He added that he wants to see the print edition live for a long time and he will do his best so that it lasts a really long time but the truth is that this print edition may soon have an expiry date. He said that we will be simply deciding this on economics and in the future there may come a point when the economics of the newspaper print will no longer make any kind of sense.
Mark Thompson also mentioned that the key thing for us is that we are pivoting and their plan is to simply continue to serve the local print subscribers as long as they are able to do it. But in the meantime, it is also necessary to build up digital businesses so that the company keeps on growing successfully even after print journalism is completely gone. Digital subscriptions are the recent trend in the United States and only those subscriptions have resulted in keeping the New York Times afloat among the new generation of readers. At this point of time, Thompson mentioned that the number of print subscribers of the newspaper remained almost constant with a bit of declination in the rate each time.
On the other hand, the number of digital subscriptions of the newspaper is increasing at a rapid pace and the company said that it has added about more than 157,000 digital subscriptions in the last quarter of 2017. The majority of the added subscriptions were completely new ones but at the same time, they included the crossword and cooking subscriptions as well. The total revenue from the digital subscriptions increased to more than about 51 percent in the last quarter of the previous year as compared with just a year earlier. The overall revenue that was generated from digital subscriptions of the newspaper had increased by 19.2 percent. In addition to this, the earnings and revenue of the company in the fourth quarter of 2017 has clearly beaten the expectations of the analysts.