Reuters reports that the New York Times, which charges for access to its website beyond 20 hits a month is working. It has 100,000 new subscribers since it launched last month and is estimated to bring in annual revenues, desperately needed, of $26 million. Good thing too; its traditional ad revenue declined 7.5 per cent for a revenue drop of 4.4 per cent. So far, business newspapers like the Wall Street Journal or high quality broadsheet like the Times of London seem to be the only types of newspapers making money off web subscriptions. Wonder when the Globe and Mail will go to this model; as for PostMedia, it seems stuck in 1998 talking about convergence and web first, pushing people to its free website.
Sorry, no link until I figure out how I can cut and paste on the new “improved” Mozilla browser. Meanwhile, a Google News search New York Times gains online subscribers while print ads fall, will get you there. April 23 2011