New York Times announces price increase

New York Times building

The New York Times has announced a price increase for the print edition. Photo Credit: Haxorjoe/Wikimedia Commons/CC-BY-SA

The New York Times, one of the most revered newspapers in the world, has had to raise its prices. Print  news is becoming a harder business to operate in and the “The Gray Lady” is no exception.

Newspapers struggling

Print media has become a hard business. Some very old and large newspapers have gone out of businesses. Some have gone entirely online in order to survive. Those that are staying in business are having to raise prices and institute an online paywall to get online users to pay to read content.

Numerous newspapers had to raise print issue prices last year. For instance, according to the Huffington Post, the Los Angeles Times raised the price of the weekday paper from 75 cents to $1 on Labor Day. The Saturday edition stayed at $1.50 and the Sunday edition rose from $1.50 to $2. At the end of June 2011, the New York Post rose to 75 cents from 50, according to Adweek.

It wasn’t confined to American newspapers; according to the Guardian, both The Guardian and The Telegraph, two of the largest British newspapers, raised print issue prices to 1.20 pounds (about $1.90) for weekday editions last year.

Gray Lady raises prices

According to MSNBC, the latest newspaper price increase is the New York Times, arguably among the best newspapers in the nation, if not the world. The Times, affectionately referred to as “The Gray Lady” among journalists, has instituted a 50 cent price increase for Monday through Saturday editions, which will cost readers $2.50.
The Sunday edition, however, remains $5 for New Yorkers and $6 for everyone else. Digital subscriptions aren’t changing.

Innocuous but important

Though an increase of 50 cents for the price of a newspaper isn’t exactly earth-shattering news, continually flagging revenues at one of the biggest and most prestigious, newspapers in the nation is. The New York Times Company, according to Business Week, has been losing revenue and circulation for the last seven years running. The stock price for the company has declined by 80 percent since 2004.
In the 1990s, according to the Wall Street Journal, advertising accounted for less than half the paper’s revenue. By 2010, it accounted for 76 percent.

Sources

Huffington Post

Adweek

The Guardian

MSNBC

Business Week

Wall Street Journal

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