The New York Times is looking to cut about 100 newsroom jobs, or close to eight percent of its news staff, the Times reported this morning.
Part of the reason for the cutbacks: The paper’s new subscription strategy, based on the idea of multiple apps, isn’t working.
The publisher plans to shut down its NYTOpinion app, four months after it launched, because not enough people were buying subscriptions for the service, which costs $6 a month.
And while the Times’ slimmed-down digital subscription app, NYT Now, will continue to operate, it hasn’t seen the adoption the company has hoped for, the Times said. A new food app, which just launched, is free for now.
As we reported in August, the Times could be nearing a ceiling of potential digital subscribers, and the latest cost cuts are likely because of slowing digital growth at the Times. Increasing its online revenue is crucial for the paper since advertising — both in print and online — has steadily dwindled…