This is not a good time for printed media.
Profit for The New York Times has dropped DRASTICALLY - more than 57% - in its first quarter.
Making $12.8 million in its first quarter in 2010, the Times has reported a revenue of $5.4 million during its first quarter this year, which spells out very bad news for the newspaper.
The paper has had a steady decline of readers and advertisers, which has made the Times become more costly to make.
The good news, though, is that its digital ads grew about 4.5%, which means more people are turning to The New York Times on their computers and smart phones, but the problem is digital ads are much cheaper than print ads.
The organization has implemented a subscription plan in place, which they believe will help to improve their bottom line in the second quarter.
Let's hope. We know that print media is a fixture of the past, but we'd hate to see the Times go.
Do U think the New York Times has a chance of surviving??
Tags: digital ads, drop, net income, new york times, print ads, revenue