The New York Times announces growth strategy

The New York Times has announced a new growth strategy to include extensions of existing subscription models at different prices and new initiatives based on the newspaper's brand.

A cheaper subscription option and an 'enhanced tier' are the main products under development, while there are also plans to move further into games and e-commerce.

"We're adding in new products and services that we believe, based on research with customers, there's a demand for," Eileen Murphy, vice-president for corporate communications at the New York Times, told Journalism.co.uk.

She said there would be "niche products", "lower-priced products, plus "an enhanced tier". An announcement earlier this week that all video would be outside the paywall is also part of the growth strategy.

Today's announcement confirms earlier reports by Journalism.co.uk that the New York Times was considering subscription options lower than the current plans. Speaking to us last week, Paul Smurl, vice-president of NYTimes.com paid products, said they were considering a "$10 or sub-$10" option.

Today's announcement indicates the lower-priced package will give access to the "most important" stories; packages tailored to users' interest in politics, technology, sport or other topics; and a higher-priced tier that would include full access and add-ons such as Times event tickets and family options.

Readers can currently view 10 articles a month before being required to opt for one of several subscription options.

Other elements of the strategy, such as games, e-commerce and conferences are still in the early stages of development said Murphy, and are likely to be rolled out in 2014.

"Think crosswords," she said, "We have an incredibly valuable franchise with our crosswords so I think you can expect to see us do more in that area."

This is the latest in a line of announcements and strategy changes that have come into effect since former BBC chief Mark Thompson became president and chief executive officer of the New York Times Company in November.

Thompson said in a statement: "We mean to grow our business by launching new products and services based on the unique strengths of Times journalism and by investing in the rapid expansion of existing operations."

Free daily newsletter

If you like our news and feature articles, you can sign up to receive our free daily (Mon-Fri) email newsletter (mobile friendly).