What is the New York Times? Based on those who have NYT Derangement Syndrome**, it’s a newspaper that has betrayed its progressive readers by publishing articles and oped pieces that are centrist or even right wing.
I have sympathy for such views. I love the Times and I wish it were solidly to the left politically the way a paper like the Guardian is. But is that what it aspires to be?
The best way to understand their aspirations is to look at what they say about themselves. We can see that recently in things they published here, here and here. The CEO himself says the Times is…
on the path to grow our subscriber base and become the essential subscription for every curious person seeking to understand and engage with the world. The combination of our world-class news destination plus market-leading lifestyle products means we have complementary offerings in big spaces, each with multiple growth levers fueling multiple revenue streams. Together we believe these make The Times resilient in a changing media landscape and well positioned for continued value creation.
That’s the business the Times is in. Indeed, it is reflected in things they produce, like the New York Times mobile app. Sure the News is still front and center on top of the app, but with a simple swipe left or right you have Cooking, The Athletic, Lifestyle, Great Reads and more. If you never ever read the news but digitally subscribe to get access to the Cooking section or The Athletic section, that’s fine by the CEO. Or if you read / hate read Bret Stevens and Ross Douthat, that’s good for revenue as well.
The days of the New York Times being a city newspaper or even a national paper are long over. I suspect the days of it being a progressive paper are over too. Rather than be progressive it will be for everyone. Rather than be a Paper, it will be a Destination.
The days of the Manchester Guardian being a city newspaper or even a national paper are long over too. But if you want a progressive paper, that may be the place you want to go.
Meanwhile read the reports I linked to in order to see what the Times is focused on. Specifically, they have to grow digital subscriptions to increase ad revenue, especially as print subscriptions and the revenue associated with that is decreasing. As they state, “revenues grew 4.4 percent in the second quarter of 2024 to $585.2 million from $560.5 million in the second quarter of 2023. Subscription revenues increased 6.5 percent to $410.0 million from $385.0 million in the second quarter of 2023, primarily due to growth in subscription revenues from digital-only products, partially offset by decreases in print subscription revenues. Advertising revenues decreased 0.2 percent to $112.1 million from $112.3 million in the second quarter of 2023, due to declines in print advertising revenues partially offset by higher revenues from digital advertising”. There you have it in black and white.
** NYT derangement syndrome is a derogatory term used to describe a form of toxic criticism and negative reaction to the newspapers articles and oped pieces. Not unlike Trump Derangement Syndrome.