The New York Times will cease to be published in a physical form sometime in the near future according to Arthur Sulzberger, Jr., publisher and chairman of the paper."We will stop printing the New York Times sometime in the future, date TBD," he stated at the International Newsroom Summit.
According to mashable.com losses in ad revenue have amounted to 27.2 percent between 2008 and 2009 for the paper.
The article, which can be found here says that Sulzberger acknowledged the importance of "finding new, timely, culturally relevant ways to reach readers and profit from gathering and reporting the news."
The paper is playing around with different revenue models to accomplish this goal.
“Our pursuit of the pay model is a step in the right direction for us. We believe that serious media organizations must start to collect additional revenue from their readers… information is less and less yearning to be free,” he said.
I have to say that I am not surprised by this news. I think it was only a matter of time before this happened. With the rise of new media and the decrease in circulation, it seems like the most logical, cost effective way to keep credible news stories out there.
Competition with online news sources, and yes, dare I say it, blogs will always be tough. Information is forcing itself upon the consumer every waking second; there are some that are useful, a handful that are factual, and a dumpster full of some that should never be read. But as Bob Dylan put it, times they are a changin, and its a little refreshing to see something traditional evolve.
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