The decline in the revenues of the NYT continued since 2005 and peaked at $3.4 billion.
There were many causes for this, such as: reduced sales of print newspapers and collapsing of advertising revenue were the major ones. The company moved to a single printing plant, closed all the loss making business, outsourced many functions, and jobs were eliminated to cover-up the looses the company was suffering from (niemanlab, 2018).
Look for ways to grow the audience: one such way is by campaigning, using second street engagement technologies to spread promotional messages, innovative content and email
Charging to access premium content: readers once comfortable with a new company do not hesitate to pay for the content. This created high revenues for the companies
Philanthropy: donating to social cause increase the popularization of any company, supporting a social cause not just by donating money but also by promoting the cause.
The challenges were:
New York Times Company, Inc. (2009). annual meeting of stockholders.
nytco.com. (2018). Our path forward. Retrieved from : https:l/www.nytco.com/wp-content!uploads/Our-Path-Fmward.pdf.
niemanlab. (2018). The leaked New York times innovation report. Retrieved from: http://www.niemanlab.org/2014/05/tlie-leaked-new-york-times-innovation-report-is-one-of-the-key-documentsof-this-media-age/.
Wired. (2018). Retrieved from:https://www.wired.com/2017702/new-york-times-digital-journalism/.
Peck, G. (2017). 10 problems 10 solutions. Retrieved from: https://www.editorandpublisher.com/feature/10-problems-10-solutions-newspapers-share-how-they-overcame-some-of-their-toughest-challenges/
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