New York Times reports 95.7 percent fall in quarterly profit
Source: Reuters
Nov 2 The New York Times Co reported a 95.7 percent fall in quarterly profit, hit by restructuring charges related to headcount reductions.
Net profit attributable to the newspaper publisher fell to $406,000, or break-even per share, in the third quarter, from $9.4 million, or 6 cents per share, a year earlier.
Revenue fell to $363.6 million from $367.4 million.
Read more: http://www.reuters.com/article/newyorktimes-results-idUSL4N1D3456
uawchild
(2,208 posts)And newspapers have not found a way to monetize content online.
Dinosaurs, buggy whips, newspapers. Dead, dead, and dying.
BumRushDaShow
(129,053 posts)and recently went all online with my subscription (which includes both a "replica" of the paper and a continually updating version). One of the things that the NYT did do was to try to be innovative with it, e.g., taking "print" and adding video to it vs a still picture. They have been trying out all sorts of things the past couple years including developing a virtual reality app (with some cardboard "glasses" to allow a reader to get "immersed" in some of their long form stories (I haven't had chance to try it yet).
Too much of our consumption has been via "soundbite pseudo-journalism" and the newspapers (whether they are actually on "physical paper" or not) can offer content without the sneering smarmy talking heads that insist that they are going to interpret something for us.
onehandle
(51,122 posts)yeoman6987
(14,449 posts)I truly believe the last time I bought a paper was 10 years ago and it was a USA Today for a flight. It's not worth paying something that's already known.
UpInArms
(51,284 posts)And it just turned 150 years old
Print only
yeoman6987
(14,449 posts)I am not total Scrooge on newspapers.
UpInArms
(51,284 posts)we are the only source of information for many
and we have peeps that run in and grab out paper ... hot off the press ... each week
Blue Idaho
(5,049 posts)The Best journalism being done today is being done by newspapers.
uawchild
(2,208 posts)Newspapers actually gather information, cover events, and do investigations. Without them our internet "news" is reduced to basically press releases.
This is especially true on the state and local level. News aggregators are basically just parasites feeding off real reporting.
closeupready
(29,503 posts)Somehow for some reason, we come here to DU every day ... to read news.
Must be humiliating. I honestly find that sad, but they've had so many missteps over the last few years that I really don't know who I'm sad for.
There is always going to be a market for real news - always was, and that's what they excelled in.
They need to find a way to "Vice"-ify themselves, i.e., do some real journalism that connects with their intended audience in a way that makes news consumers willing to pay for it. (But what do I know ...)
BumRushDaShow
(129,053 posts)Exactly.
I am a big LBNer and I now get most of my "news" from DU because there are hundreds of users scouring the web for that info and posting it here. I get "breaking news" banners on my phone and tablet from a few sources, and I'll listen to news radio (easier to multitask with it as an audio-only source). The TV is essentially the last place I go nowadays and pretty much only turn it on for "news" if there is some huge ordeal going on.
mahina
(17,662 posts)Not to printed paper, but I have a subscription.
With the LA times sold to Gannet, the NYT is one of if not the last real newspaper. The Boston Globe was, once, too. The rest are infotainment. What an incalcubable loss.
Rex
(65,616 posts)Is it any wonder others have overtaken them in news? People are hungry for facts, not agendas.
sofa king
(10,857 posts)geek tragedy
(68,868 posts)better than the NYT's.
If people value good reporting, they should pay for it.