Can the New York Times raise their digital subscriptions with a partnership?
Media is constantly evolving and adapting to new audiences. From newspapers to magazines and television, these industries are constantly trying to figuring out ways to connect to a specific demographic. As a result, we’re now seeing companies take their business to the digital market. While The New York Times has been around for well over 150 years, physical newspaper subscriptions just aren’t as common as they used to be. With options ranging from Buzzfeed to Facebook, millennials aren’t using traditional media to get their news.
To combat that, the iconic newspaper company is teaming up with Spotify to attract a new subscribers according to Bloomberg. With a digital subscription to the NYT, customers will also receive full access to Spotify. What’s most noteworthy about this is the money being saved by users. For just $5 a week, subscribers will have access to all of the benefits of both the Times and Spotify.
With this package offer, both companies hope to boost their respective subscription numbers.