The New York Times will launch a new smartphone app and a premium monthly subscription package on April 2, in a bid to boost subscribers for its digital products.
The iPhone app called NYT Now will cost just $2 per week or roughly $8 for 4 weeks, much lower than current digital subscription packages that start at $15 per month. A staff of more than 10 editors will provide select content to mobile users, to provide a more curated experience.
The New York Times building in New York City.Adam Jeffery | CNBC
Meanwhile, Times Premier will offer more content including access to Times Insider (a behind the scenes look at the newsroom) and will cost $45 for 4 weeks.
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NYT CEO Mark Thompson told the FT Digital Media Conference in London that the NYT Now app would help capture more customers along the demand curve.
According to Thompson, annual pure-play digital revenue is now worth around $330 million. But digital subscriptions — which reached 760,000 — have slowed in recent quarters.
Thompson said around 10 percent of digital subscribers were now outside the U.S. and 30 percent of digital traffic originated outside the US.