The New York Times Company is best-known for its flagship newspaper, The New York Times. The company owns and operates the digital assets related to the newspaper as well as circulates the international and domestic versions of the New York Times newspaper. It is estimated that the daily circulation of the newspaper is more than 500,000 on weekdays and more than 1 million on Sundays. The New York Times Company is among the leading names when it comes to communication and publishing stocks. If you are an investor looking to buy communication stock, then the New York Times Company is one candidate that should be analyzed further. The company was found in 1896 and has been around for well over a century.
Newspaper Stocks Focus On Digital
Companies like the New York Times are increasingly turning their attention to digital subscriptions. The old model of circulating physical newspapers is progressively slowing down. The New York Times had 1.1 million subscriptions of the physical newspaper in 2011. In that same year, the company had about 5.5 million digital subscriptions. However, as of Q12021, digital subscriptions had zoomed to 7 million, while physical newspaper subscriptions had dropped to 800,000. Meanwhile, revenues from physical newspapers were $486 million in 2011 and $529 million in 2020. It has remained rather stagnant over the past decade. Digital revenues, on the other hand, had risen from $750 million in 2011 to well over $1.7 billion in 2020. Clearly, the future belongs to companies that have invested in their digital businesses and worked on getting more digital subscribers. The New York Times Company is one of those, and it is among the top communication stocks to buy in 2021.
Buy Communication Stock
The New York Times Company’s stock has risen consistently over the five years from 2016 to 2021. It was around $12 in May 2016, and the price crossed $43 in early June 2021. On a 1-year basis from June 2020 to June 2021, the stock is up 8.5%.