Company profile
SEC EDGAR ↗- Industry
- Newspapers: Publishing or Publishing & Printing
- Listed
- NYSE: NYT
- Incorporated
- NY
- Headquarters
- New York, NY
- Fiscal year end
- Dec 31
Financials
FY2025- Revenue
- $2.82B
- Net income
- $344.0M
- Total assets
- $3.00B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2025 | $2.82B | $344.0M | $3.00B |
| FY2024 | $2.59B | $293.8M | $2.84B |
| FY2023 | $2.43B | $232.4M | $2.71B |
| FY2022 | $2.31B | $173.9M | $2.53B |
| FY2021 | $2.07B | $220.0M | $2.56B |
| FY2020 | $1.78B | $100.1M | $2.31B |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
Decisions on record
5 verified Decision Cases on New York Times, and the casebook each one belongs to.
| Fork date | Decision type | What New York Times chose | Where it stood | The story | Casebook |
|---|---|---|---|---|---|
| 2009 | The Turnaround | Take 14% Slim loan | reached $979 million — about 42% of total revenue (2022) | Read the story → | The Turnaround Casebook → |
| 2022 | The Money Machine | Acquire The Athletic for bundle | Full-year digital-only revenue per user grew 2.6% to $9.42 (2024) | Read the story → | The Money Machine Casebook → |
| 2022 | The Money Machine | Build habit-forming bundle | roughly 12.78 million by end of 2025 (2025) | Read the story → | The Money Machine Casebook → |
| 2022 | Adjacency Expansion | Acquire The Athletic | Passed ten million subscriptions, reached with The Athletic's ~1.2M subscribers (2022-02) | Read the story → | Adjacency Expansion Casebook → |
| 2022 | Adjacency Expansion | Buy Wordle as on-ramp | 'Other single-product' ARPU fell 6% year-over-year to $3.36 in Q4 2025, while bundle ARPU grew 3% to $12.92 (2025) | Read the story → | Adjacency Expansion Casebook → |
Videos on New York Times
Run one of these yourself
The decisions New York Times faced, as kits you can run.
Each pack takes one of these decisions and gives you the framework, a deck for the room, a model that resolves to one number, and the sourced cases behind it. $499, one-time.
Growth & PortfolioThe Adjacency ExpansionWhen does the business next door belong to you?See the pack →Business ModelThe Money MachineWhere does the money actually come from, and who sets the rate it comes in at?See the pack →Decision ForksThe ReversalsWhen do you reverse a position, and what does a year of waiting cost?See the pack →
The analyses
The Adjacency Expansion · Growth & Portfolio
The New York Times Bought Games as an On-Ramp — Its Fastest-Growing Cohort Pays $3.36
Everyone says the Times paid low-seven figures for Wordle and became a games company. Wrong frame. Games is the cheapest on-ramp into the bundle - and the data show that the on-ramp's natural home, single-product subscribers, is the fastest-growing cohort and the lowest-paying one, at $3.36 ARPU.
7 min
The Money Machine · Business Model
The New York Times Stopped Being a Newspaper. The Money Proves It.
Everyone calls the Times an ad-supported media company. It isn't anymore: in 2024, subscriptions were a clear majority of $2.59B in revenue, advertising shrank to a minority stream, and free cash flow hit $381M. It's a software business that happens to employ journalists.
7 min
The Money Machine · Business Model
The NYT Bundle Trades Price for Lock-In — ARPU Fell 6.7% as Cheap Subscribers Flooded In
Everyone reads the NYT bundle as an ARPU machine. The 2024 10-K says otherwise: bundle ARPU fell 6.7% as cheap subscribers flooded in, while the news-only base shrank 30.6%. The Times is trading price for lock-in - and won't tell you how well it's working.
8 min
The Reversal · Decision Forks
A $550M Sports-Site Deal Pushed the NYT Past 10 Million Subscribers
The NYT's digital turnaround is real - but the 10-million milestone was reached because a $550M sports-site purchase added 1.2M subscribers overnight. And the bundle that drives growth now trades higher-paying news subscribers for cheaper ones: bundle ARPU fell 6.7% in 2024.
8 min
The Turnaround · Crisis & Reinvention
Time and a Slow-Burning Paywall Saved the New York Times After a $250 Million Loan at 14%
In 2009 the Times borrowed $250 million from a Mexican billionaire's companies at a punishing 14% and sold 21 floors of its own headquarters. The heroic-turnaround story skips the part that actually saved it: time, and a paywall that paid off years later than anyone remembers.
8 min
Tools to try
- Ansoff move finderFramework: Ansoff Matrix
- Business model canvas builderFramework: Business Model Canvas
- Change readiness checkFramework: Kotter's 8-Step Change Model
- Five Forces scorerFramework: Porter's Five Forces
- SMART goal builderFramework: SMART Goals
- SWOT builderFramework: SWOT Analysis
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