At a recent International Newsroom Summit Conference, the New York Times publisher and chairman Arthur Sulzberger, Jr. stated that he eventually expects the NYT will no longer be in print, acknowledging a fact that has become obvious to media watchers.
“We will stop printing the New York Times sometime in the future, date TBD,” Sulzberger admitted. While news reporting is expected to continue, the method of reporting news will change. The Times will continue to produce an electronic version of the newspaper.
Traditional print newspapers have been in trouble for some time with falling circulation and revenues. Ad revenue has fallen dramatically for print publications while increasing for electronic news sites. Far more people are getting their news online than ever before. Only about 1 in 4 Americans say they read a print newspaper, according to a study by the Pew Research Center.
It has taken most news outlets too much time to come to the realization that print is becoming obsolete. By delaying change, many publications have put themselves in financial trouble.
The news industry is seeking more relevant ways to report news. The Times previously tried a paywall on their Internet news site, but it was unsuccessful. This time they will allow a limited number of free articles before asking users to pay.
Plagued with competition from online media and bloggers, traditional newspapers have struggled to survive and to find a way to make a profit from gathering and reporting the news.
Other newspapers have long watched the “Gray Lady” as a leader in the industry and are expected to follow its lead if the model is successful .