NYT’s acquisition of The Athletic a bet on subscriptions ‘while daily habits are up for grabs’ | Business Post

The New York Times has 8.4 million paying subscribers, the Athletic 1.2 million. Picture: Getty

Other notable acquisitions include New York Times investments in media software OpenWeb and Serial Productions, the production house behind the hugely popular Serial podcast.Commentators have described the NYT’s acquisition of The Athletic as “a bet on subscriptions”, one with the potential to expedite the paper’s goal of hitting 10 million digital subscribers by 2025.

While these numbers solidify the NYT as the world’s largest English language paid-for digital publication, it still has a distance to travel to meet its stated target of 10 million subscribers, particularly in light of the post-“Trump bump” slowdown in new subscribers. The Athletic has been a source of both fascination and wariness within the media industry since its inception. Some hailed it as a potential saviour of sports journalism, while others viewed it in more hostile terms, particularly in light of co-founder Alex Mather prophesising that his business would “suck” local newspapers dry of their top talent until they were the “last ones standing”, ironically in a NYT interview in 2017.

However, the deal aligns with a growing recognition among media outlets big and small that consumers will pay for expertise and quality analysis, if not breaking news. Traditional broadsheet titles are moving quickly to reflect this in their product offerings.

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