The New York Times has set it sights on doubling its digital revenue to $800 million by 2020, as legacy publications scramble to find growing revenue streams amid the steady decline of print dollars.
The newspaper company has set a new goal of earning $800 million in digital revenue by 2020, up from $400 million last year, according to a companywide memo from Executive Editor Dean Baquet and Chief Executive Officer Mark Thompson.
“Achieve that and we will secure our journalistic mission for the long term as well as create one of the world’s most successful digital content businesses,” said the memo, which comes after the Times recently said it has reached one million digital subscribers.
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