As the New York Times continues to lose more print subscribers, the company looks for new ways to regain subscribers. The media giant’s latest move is to offer a subscription service for mobile users. This new subscription service, which will debut on April 2nd, will be a relative bargain at $8.00.
New York Times taps into mobile market
The New York Times Company (NYSE:NYT) Now subscription service will be available for the iPhone and iPod Touch. This app will feature a curated selection of content from The New York Times.
5 Charlie Munger Quotes Every Investor Should Know
Charlie Munger is perhaps best-known as the vice chairman of Berkshire Hathaway, where he has been Warren Buffett's longtime business partner. As well as holding this position, he also servers as the chairman of the Daily Journal Corporation and is a director of Costco Wholesale Corporation. Munger started his investment career in the 1960s when, Read More
Jill Abramson (Executive Editor for the NYT) explained in the following statement, “The launch of NYT Now marks a significant point in Times history as it is the first mobile product with its own dedicated editorial staff that offers a particular selection of Times stories. NYT Now cuts through the vast amount of content available on the web and social media to provide the most essential stories of the moment, hand-selected by some of the most thoughtful and discerning journalists in our newsroom.”
The New York Times Company (NYSE:NYT) will also offer Times Premier which offers behind-the-scenes access and exclusive benefits such as interviews with politicians, fashion insiders, celebrities, and more. Other benefits includes family access and two free T-Books each month.
NYT offers a better user experience with apps
When New York Times first launched a paywall on its site, the website saw an increase in digital subscribers up to 760,000. Since then, growth has slowed and now the company is looking for a new way to goose it. The New York Times Company (NYSE:NYT)’s editor Clifford Levy said the new app is a lot like the leap they made from print to web. With this new app, editors will actually curate the content instead of relying on computer algorithms.
As more consumers trade traditional methods of media for mobile alternatives, it is vital for news and media outlets to change with consumers to match their needs.