"All the News That's Fit to Print and Post Online" would be a more accurate motto for this media titan. The New York Times Company (The Times Co.) publishes
The New York Times.
The iconic newspaper, known to many as The Grey Lady, is one of the world's most respected sources of news. The paper boasts a weekday circulation of about 500,000 and 1.1 million on Sundays. The Times Co. owns
The Boston Globe
among other big city newspapers and distributes news online through NYTimes.com and other sites. Chairman Arthur Sulzberger and his family control the firm through a trust.
The Times Co.'s main two divisions are the New York Times Media Group and the New England Media Group. The New York Times Media Group includes The New York Times, the International New York Times (formerly the International Herald Tribune), NYTimes.com, and related businesses. The New England Media Group includes The Boston Globe, BostonGlobe.com, Boston.com, the Worcester Telegram & Gazette (the 'T&G'), Telegram.com, and related businesses.
The company mainly generates revenue from circulation and advertising.
Circulation accounts for more than 55% of revenue. Circulation includes the sale of subscriptions to company’s print, web, and mobile products and single-copy sales of company’s print newspaper.
Advertising accounts more than 35% of the company's revenue. The segment includes advertising products and services on company’s print, web, and mobile platforms.
The Times Co.'s papers are distributed worldwide in print and digital form.
Sales and Marketing
The New York Times is delivered to newsstands and retail outlets in the New York metropolitan area through a combination of third-party wholesalers and the company’s own drivers. In other markets the paper is delivered through agreements with other newspapers and third-party delivery agents.
The Times Co. spent $89.8 million on advertising and promotional expenses in 2016.
Advertising struggles, both online in print, have affected The Times Co.'s revenue in recent fiscal years. For fiscal 2016 The Times Co. reported $1.56 billion, down slightly from fiscal 2015's revenue of $1.58 billion.
In fiscal 2016 the company's net income decreased to $29 million from a net income of $63 million in fiscal 2015. The drop was mainly due to increases in operating cost. Selling, general, and administrative costs increased as a result of severance expense associated with workforce reductions.
The Times Co. is something of an anomaly in an industry led by diversified media conglomerates (Tribune Media) and vast newspaper empires stretching coast-to-coast (Gannett). The company's success hinges on its big city papers attracting readers and advertisers.
The Times Co. has raised cover prices and subscription rates for The New York Times in an effort to make up for declines in print advertising. It is also focused on efforts to reduce costs while investing in its digital media operations to diversify away from expensive print publishing. The company also began charging a subscription fee for access to certain NYTimes.com content.
The company's primary focus going forward is its NYT brand, including expanding the brand's international reach. The International Herald Tribune is being rebranded as the International New York Times. The Times Co. also plans to introduce more digital products, introduce more mobile initiatives, and expand its events business.
Mergers and Acquisitions
In 2016 The Times Co. acquired Fake Love, an integrated experience design agency that specializes in anchoring brands in contemporary culture via creative programs, live experiences, and virtual and mixed reality.
Also in 2016 The Times Co. acquired California-based marketing and technology firm HelloSociety in addition to paying approximately $25 million to acquire product-recommendation service The Wirecutter and the Sweethome.