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article imageNew York Times attracts more than 100,000 online paid subscribers

By Leo Reyes     Apr 21, 2011 in Internet
The New York Times has announced it has generated over 100,000 paid subscribers during the past three weeks since it began charging subscribers last March 28.
Times Company President Janet Robinson said the online subscription figures were encouraging but acknowledged the overall revenue figures for the Times Company which includes New York Times, Boston Globe, International Herald Tribune, 15 other dailies and About.com have declined by 3.6 percent.
The decline in advertising revenue due to weak market demand was the main reason for the sales revenue and profits shortfalls.
Robinson said the launch of digital subscriptions for NYTimes.com, however, "brings our plan for a new revenue stream to life" and the company is "pleased with the number of subscribers we have acquired to date", Inquirer.net reports.
"Initial volume has meaningfully exceeded our expectations," she said.
The Times Co. said digital subscribers for NYTimes.com have surpassed 100,000 and "early indicators are encouraging."
The New York Times new subscription plan was announced early last month amid opposition from old timers at the most popular news organization in the world.
Some industry analysts say the plan was doomed to fail and that the news organization was "dangerously out of step with the digital age".
“On the one hand, I think there is some anxiety around it,” said Martin A. Nisenholtz, the senior vice president for digital operations, who initially wanted NYTimes.com to remain open and free. “On the other hand, I think the model we have chosen mitigates 90 percent of it” , N.Y. Times reports.
Because of weak advertising revenues brought about by economic downturn, most US-based newspaper companies have downsized their operations and majority of them have switched to digital publishing.
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