The New York Times Profits Drops 57 Percent
Whenever someone gives us the choice, we always pick hearing the bad news first, so here it is: The New York Times profit fell by 57 percent in the first quarter, dropping from $12.8 million in 2010 to $5.4 million this year. The culprit once again is lagging print advertising sales. Okay, digest that for a minute. Go ahead, have another sip of coffee. Also, you’ve got a piece of bagel stuck to your chin.
Okay! Now, on to the good news: The first stats on the paper’s paywall subscribers are in, and over 100,000 people have already signed on.
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