New York Times: profitable every year.

1. Six decisions on record. Stratrix has verified six of New York Times's big decisions, each with what happened next. The hardest year after: "Time and a Slow-Burning Paywall Saved the New York Times After a $250 Million Loan at 14%", with its shares 43 points behind the S&P 500 over the next three years. The best: "The New York Times Stopped Selling Eyeballs and Started Selling Readers. It Worked - With an Asterisk", 31 points ahead of the S&P 500 over the next three years.
2. Profitable every year. New York Times made money in each of its last ten fiscal years, from $0 billion (2017) to $0.3 billion (2025).

Financial results

As reported in its annual filings. Losses in red.

Stratrix Decision Cases

• 2022The New York Times Bought Games as an On-Ramp — Its Fastest-Growing Cohort Pays $3.36Stood · shares +7 pts vs the S&P 500 over 3 years
• 2022A $550M Sports-Site Deal Pushed the NYT Past 10 Million SubscribersStood · shares −15 pts vs the S&P 500 over 3 years
• 2022The New York Times Stopped Being a Newspaper. The Money Proves It.Stood · shares −19 pts vs the S&P 500 over 3 years
• 2022The NYT Bundle Trades Price for Lock-In — ARPU Fell 6.7% as Cheap Subscribers Flooded InStood · shares −19 pts vs the S&P 500 over 3 years
• 2011The New York Times Stopped Selling Eyeballs and Started Selling Readers. It Worked - With an Asterisk.Stood · shares +31 pts vs the S&P 500 over 3 years
• 2009Time and a Slow-Burning Paywall Saved the New York Times After a $250 Million Loan at 14%Stood · shares −43 pts vs the S&P 500 over 3 years