"The Failing New York Times" Stock Plunges After Company Reports Continued Declines In Advertising
by Tyler Durden | Thu, 11/07/2019
The failing New York Times may not just be a cute nickname anymore.
Stock of the company plunged as much as 7% on Wednesday, finishing the session down about 4%, on news that its revenue from advertising continues to decline.
The company reported this week that ad revenue for its print version is down 9.7% year over year and down 17.2% for its digital version. Print advertising fell 7.9% while digital advertising fell 5.4%. Despite this, the company also reported a jump in subscribers, to 4 million digital-only and 4.9 million total subscribers.
On its earnings call, the company pivoted from advertising to its new "partnership" with Facebook News, according to the Wrap.
CEO Mark Thompson commented: "More important than the immediate financial benefits of the agreement is its strategic significance."
He continued: "We previously received small payments for participation in various experiments and innovations, but Facebook News is different because this is the first time that a Silicon Valley major has recognized the value of Times journalism to its platform with a substantial multi-year deal."
Facebook News launched in October but has generated headlines of its own for its plan to license content from "trusted" news outlets for millions of dollars.
New York Times executive vice president and chief operating officer Meredith Kopit Levien said: "We decided to participate because we saw a substantial increase in amount of money Facebook was ready to commit and it represented a step change in what we've seen from a platform before."
Please go to Zero Hedge to read the entire article.
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One of the contributing factors to The New York Times failing is because of alternative news like this website:
TomatoBubble
Whenever the description "Bolsheviks" or "communists" are brought up by the alternative media, just equate these two descriptions as the creations of bankers. The media is the banker's propaganda machine. But since most Americans spend their weekends enthralled with NFL football games to keep them occupied while bankers steal from them, most will never come around to ending their dependence on the current media as media sources like The New York Times changes strategies. In The New York Times' case working with Facebook.
The NYT Propaganda Machine Never Rests
It's only a matter of time when CNN viewership plunges even more as more Americans increasingly realize CNN really is fake news. Thank President Trump for being the first president to drop that meme into the public's lap.
CNN Drops 26% In Prime Time As Fox News Dominates April Cable Ratings
It appears televisions are on their way out which explains a great deal why the major media television networks are spiraling down in viewership.
Nobody Knows What Television Is Anymore
Hopefully, the Huffington Post will not be able to find a buyer for their propaganda operations. This is another example of the failure of the media. Nobody wants to waste their time with news sources reporting on how news is slanted by those running these media operations.
Verizon Is Exploring Sale of HuffPost (Report)
USA Today's printed version is going to be phased out. Another good sign. But need to be careful if USA Today goes digital lining u with a giant social media platform like Facebook to survive.
USA Today's print edition reportedly set to be phased out if GateHouse's purchase of Gannett goes through
And look at all the sexual nonsense NBC News is getting involved with reporting. NBC News reporting on a coach masturbating in front of a professional coach. More titillating sexually related nonsense news to distract you.
Referee says he told Rep. Jim Jordan that Ohio State doctor performed sex act in shower
And then there is ABC News reporting fake war news on the international criminal conspiracy to destroy that country.
ABC News uses Kentucky gun range video to claim Turks 'slaughtering Kurds' in Syria
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