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New York Times CEO Says He Expects the End of the Physical Newspaper Within 20 Years

posted by Fnord666 on Tuesday August 11 2020, @09:35PM   Printer-friendly
from the parting-shot dept.

upstart writes in with an IRC submission:

New York Times CEO Mark Thompson says he expects the end of the physical newspaper in 20 years:

The New York Times was founded in 1851, but it would surprise outgoing CEO Mark Thompson if the physical paper made it to 2040.

"I believe the Times will definitely be printed for another 10 years and quite possibly another 15 years — maybe even slightly more than that," Thompson told CNBC's A View from the Top. "I would be very surprised if it's printed in 20 years' time."

More than 900,000 people subscribe to the print version of the newspaper, said Thompson. At its current subscriber levels, the paper could be printed seven days a week at a profit without a single advertisement, he said.

But as readers become more accustomed to reading the Times on smartphones, tablets and computers each year, a printed paper is clearly a dying form. The New York Times Company reported last quarter that total digital revenue exceeded print revenue for the first time ever. Print advertising fell more than 50% year over year from last quarter, driven by both secular declines and the pandemic. Thompson told CNBC he doubts that advertising will ever come back.

"I'm skeptical about whether it will recover to where it was during 2019 levels," Thompson said. "It was already in year-over-year decline for many years. I think that decline is probably inexorable."

Original Submission

 
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  • (Score: 2, Offtopic) by Runaway1956 on Tuesday August 11 2020, @11:00PM (3 children)

    by Runaway1956 (2926) Subscriber Badge on Tuesday August 11 2020, @11:00PM (#1035242) Journal

    Gnome lives matter, you RACIST!!

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  • (Score: 0) by Anonymous Coward on Wednesday August 12 2020, @12:22AM (2 children)

    by Anonymous Coward on Wednesday August 12 2020, @12:22AM (#1035282)

    You should stop being a despicable bastard then maybe your kids would call more.

    • (Score: 2, Offtopic) by Runaway1956 on Wednesday August 12 2020, @12:37AM

      by Runaway1956 (2926) Subscriber Badge on Wednesday August 12 2020, @12:37AM (#1035289) Journal

      I wish they would all move out, so they have a reason to call. Better they call, than stand in front of my refrigerator with the door hanging open. 'Course, that's probably politically incorrect, seeing as they are millenials . . .

    • (Score: 2) by Phoenix666 on Wednesday August 12 2020, @01:28PM

      by Phoenix666 (552) on Wednesday August 12 2020, @01:28PM (#1035519) Journal

      You should stop being a despicable bastard or you will never have kids.

      --
      Washington DC delenda est.