The two main newspapers of the East coast published this week their results for the second quarter. They were not very good but could have been worse.
The NYT announced a net income of 20 millions dollars against a loss of 87 millions last year. Advertising keeps going down like in Europe but the circulation revenue is up by 5%. Now the newspaper has 700000 digital subscribers, plus 35% from 2012. A confirmation that the digital policy of the Times is a success. The sale of the Boston Globe for 70 millions dollars is another sign of the strategy of the group to focus on the flagship newspaper and its international publication the Herald Tribune renamed this fall International New York Times.
The Post group has a revenue of 1billion for the second quarter with an income of 44 millions thanks mainly to local television stations. The circulation of the daily keeps going down by 7% but the online revenue keeps growing by 15% to 30 millions. The newspaper is finally starting a paywall which should be less successful than the NYT.
So, the lengthy and painful process of reorganization of the press, moving slowly from print to digital is going on. Still, one must not forget thet in the US as in Europe, digital publications cannot afford the huge newsroom necessary to cover comprehensively the current affairs of the world.
It gives also food for thought that the biggest success of digital publications in Washington, which is Politico, doesn't belong to the Post.