About The New York Times Company
"All the News That's Fit to Print and Post Online" would be a more accurate motto for The New York Times Co., which publishes The New York Times along with other print and digital products. The iconic newspaper is one of the world's most respected sources of news, having won more than 125 Pulitzer Prizes and citations, more than any other newspaper. New York Times Co. also publishes an international edition of its flagship paper, tailored for global audiences. The company's other holdings include NYTimes.com; product review site Wirecutter; mobile apps for news, crossword puzzles, and cooking; podcasts; and assets devoted to licensing, digital marketing, and commercial printing.
New York Times Co. had approximately 5.3 million paid subscriptions to its digital and print products at the close of 2019. Paid digital-only subscriptions reached approximately 4.4 million. Average print circulation (which includes paid and qualified circulation of the newspaper in print) for 2019 was approximately 443,000 for weekday (Monday to Friday) and 918,000 for Sunday.
The company mainly generates revenue from subscription and advertising. Subscription fees accounts for about 60% of revenue and includes the sale of subscriptions to company's print, and digital products (which include our news products, as well as our Crossword and Cooking products) and single-copy sales of company's print newspaper. Advertising accounts for about 33% of total revenue. Print advertising and digital ads both represent around 50% of total ad revenues.
Other sources of revenue include New York Times Co.'s licensing division, which transmits content to approximately 1,500 newspapers, magazines, and websites in over 100 countries and territories; Wirecutter, a product review and recommendation website that offers direct links to merchants in exchange for a portion of the sale price; commercial printing, which uses excess capacity at its printer to print products for third parties; and NYT Live, a platform for live journalism that convenes thought leaders at conferences and events to discuss topics ranging from education to sustainability to business. The company also earns revenue from leasing space in its building.
Headquartered in New York, New York Times Co.'s papers are distributed worldwide in print and digital across some 225 countries and territories. Average circulation for the international edition of the paper (which includes paid circulation of the newspaper in print and electronic replica editions) for 2019 and 2018 was approximately 164,000 and 170,000, respectively. Globally, NYTimes.com had a 2019 monthly average of approximately 96 million unique visitors on computers or mobile devices.
The New York Times is printed at the company's production and distribution facility in College Point, New York, as well as under contract at some 25 remote print sites across the US. The international edition of the paper is printed at some 35 sites throughout the world and is sold in over 120 countries and territories.
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.
New York Times Co.'s marketing and promotional expenses totaled $167.9 million, $156.3 million, and $118.6 million for 2019, 2018, and 2017, respectively.
Total revenues increased 4% to $1.81 billion in 2019 from $1.75 billion in 2018, primarily driven by an increase in digital subscription revenue as well as increases in other revenues, partially offset by a decrease in print advertising revenue and print subscription revenue.
The net income of the company at the end of 2019 decreased by $14.6 million to $175.6 million. The decrease was due to lower gains from pension liability adjustment.
Cash held by the company at the end of 2019 decreased by $12.2 million to $247.5 million compared to $259.8 million in the prior year. Cash provided by operations and investing activities were $189.9 million and $93.2 million, respectively. Cash used for financing activities was $295.3 million, primarily for repayment of debt and capital lease obligations.
New York Times Co. continues to operate during a period of transformation in its industry, which has presented both challenges to and opportunities for the company. The company believes that the following priorities will be key to its strategic efforts.
The company's strategy is to focus on: producing the best journalism; growing its audience and strengthening engagement to support subscription growth; improving its efficiency and effectiveness to grow its long-term profitability; and effectively managing its liquidity and its non-operating costs.
Mergers and Acquisitions
In mid-2020, New York Times Co. agreed to acquire Serial Productions, a company that produces the groundbreaking "Serial" podcast. In addition to the acquisition, New York Times Co. also announced that it had entered into an ongoing creative and strategic alliance with "This American Life" that will enable the company to continue to collaborate on long-form audio stories with Serial Productions and to collaborate on marketing and advertising sales. The terms of the transaction were not disclosed.
The New York Times Co.'s print edition newspaper commenced publication in 1851. Its core news website, NYTimes.com, was launched in 1996. The company began charging consumers for digital content in 2011.
620 8th Ave
New York, NY 10018-1618
Phone: 1 (212) 556-1234
Employer Type: Publicly Owned
Stock Symbol: NYT
Stock Exchange: , NYSE
EVP and COO: Meredith Kopit Levien
Chairman, The New York Times Company and Publisher, The New York Times: Arthur O. Sulzberger
President and CEO: Mark Thompson
Employees (This Location): 249
Employees (All Locations): 4,500
New York, NY
Los Angeles, CA
San Francisco, CA
New York, NY