“Our print business at the Times is strong,” Socia said during his keynote at the World Printers Summit in Vienna. “Our goal is to generate as much profit as possible for as long as it is profitable to help fund our digital transition.”
Today, they have more than 11 million subscribers globally, with 620,000 of those being print.
It is currently the largest circulated daily newspaper in the United States, with 3.8 million readers each week.
125 million copies printed annually
Daily newspaper circulation in the US has dropped to about a third of what it was in the early 1990s. Revenue from newspapers peaked at around $60 billion in 2005 but has fallen dramatically since then.
Yet, the Times aims to maximise profits from print products while preparing for a future that leans toward digital, Socia said.
The New York Times has 23 print sites across the US, producing over 125 million copies annually.
“We own one print site in College Point, Queens. The other 22 are partner sites that we have contracts with,” he said.
These partnerships include newspapers such as The Dallas Morning News, Houston Chronicle, The Washington Post, Chicago Tribune, The Seattle Times, and others, which help distribute the Times’ product nationwide.
Reliance on third-party distributors is a challenge
“Our biggest risk at the Times is our heavy reliance on our partners [for printing and distribution],” Socia said.
“We produce about 41 percent of our daily print order at our plant. The other 59 percent is produced across our 22 contracted print sites,” he added.
Transportation and distribution are handled by 600 third-party partners, with over 35,000 carriers delivering print products to around 350 markets across the United States.
However, many publishers are struggling with labour shortages, inflation, rising costs, and declining advertising revenue.
These pressures have prompted many to reduce their print frequency, with 42 percent of the largest US newspapers now publishing fewer than seven days a week, he said.
Moreover, many newspapers have shifted from carrier-based delivery to the US Postal Service to cut costs. While this may save money, it risks delivering newspapers at inconsistent times, which Socia believes could hurt the customer experience.
Many publishers are also consolidating and outsourcing their printing operations due to falling print orders, underutilised capacity, and the need to cut costs. Some have exited print altogether to focus on digital products.
Adapting distribution for flexibility
In response to such market disruptions, the Times has made its distribution operations more flexible. It conducts market reviews to address unique challenges, with decisions often driven by profit margins at a zip-code level.
The organisation collaborates with partners to streamline operations and reduce unnecessary truck runs, enhancing efficiency for itself and its competitors.
“To maintain a seven-day distribution schedule, we often find alternative printers and establish new networks in specific markets,” Socia said.
In the past year, the Times has established dedicated operations in major markets in the US, such as Cleveland, Ohio, and Portland, Oregon.
Wrap-around ads boost print revenues
The company earned over half a billion dollars in subscription revenue for print in 2023. While revenue has declined slightly over the past five years, the drop has been smaller compared to other publishers.
“We’re focused on slowing the revenue decline,” Socia said. “Over the last three years, we have developed a number of new advertising initiatives.”
One of the initiatives includes the introduction of wrap-around ads for their newspapers, which the Times calls “wraps.” These ads, which have drawn in big advertisers, provide great visibility and help boost revenue for the print division.
Typically, this includes wrapping the paper, a strip ad along the front page, and multiple run-of-paper (ROP) ads inside.
“Our luxury advertisers have embraced these wraps, and we’re probably doing two or three of these a week,” he said.
In December 2022, General Electric bought all the ad slots in The New York Times’ print edition. It was a first in the paper’s history.
Around 120 print experts from more than 65 companies and 23 countries came together to meet and discuss in the Palais Niederösterreich in Vienna on 8-9 October
Goal to become the ‘last man standing’
The Times launched its commercial printing business in 2017.
In May of that year, it started printing USA Today. In March 2018, it began printing Newsday after its facility closed, and in September 2020, it signed an agreement with News Corp to print the New York Post, The Wall Street Journal, and Barron’s.
Now, the publisher produces more than 60 weekly and monthly publications and continue to gain new clients, benefiting both its plant and employees.
We focus on cost reductions and efficiency across all departments, Socia said. Key investments, such as the closed-loop colour system from QIPC and panorama folder, have paid off quickly.
They upgraded their press controls and added a 12-tower, all-colour press – a Colorliner 85 – consolidating production to their Queens facility. They also improved their roll handling, palletising systems, and inserting equipment.
“To ensure we can print reliably for the next decade, we must continue investing in our facility. Our goal is to become the last man standing,” he said.
EV and sustainability investments for achieving carbon neutrality
The New York Times has pledged to become carbon neutral for Scope 1 and Scope 2 emissions by 2030.
To achieve this, the company has invested in a new building management system, upgraded facilities, transitioned to electric vehicles, and improved energy efficiency.
“We have fully converted to biodiesel and participated in several energy audits to understand our usage and identify improvements,” Socia said.
These efforts benefit the environment and enhance operational efficiency, he said. As the Times continues to modernise, it recognises the need for ongoing investment in its facilities to stay competitive.
“To extend our print runway, we must work together across our industry. Collaborating with our key suppliers and print distribution partners is essential,” he added.
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