New York Times reports 95.7 percent fall in quarterly profit

[MowCowWhoHow III]

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]

1. Print Media is dead

And newspapers have not found a way to monetize content online.

Dinosaurs, buggy whips, newspapers. Dead, dead, and dying.

[BumRushDaShow]

4. I have been a NYT subscriber since 1976

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&quot 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]

2. Hate to... Really hate to say it... But WaPo has displaced them as the newspaper of record. nt

[yeoman6987]

7. Why anyone would buy a paper today where the news is old

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]

10. I disagree ... But then, I own a weekly newspaper

And it just turned 150 years old

Print only

[yeoman6987]

11. Wow. That is great. I hope it's around another 150.

I am not total Scrooge on newspapers.

[UpInArms]

15. me, too, yeoman

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]

17. Awesome! May it long continue.

The Best journalism being done today is being done by newspapers.

[uawchild]

14. Newspapers are an actual news source

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]

3. And yet, to paraphrase something I posted last month, here we all are, reading.

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]

6. "we come here to DU every day ... to read news."

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]

5. I subscribe.

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]

8. The NYT has tarnished the brand's reputation for years now.

Is it any wonder others have overtaken them in news? People are hungry for facts, not agendas.

[sofa king]

12. That "Murdoch Touch."

[geek tragedy]

16. I recently subscribed to the WaPo because their reporting was so much

better than the NYT's.

If people value good reporting, they should pay for it.