This article focuses on the issue of The New York Times lauching a budget digital package for $2 a week to attract new subscribers. The aim of this digital pack is to cause a growth rate on subscribers, which the company had 700,000 a year ago. However, there has been a decrease among subscribers and therefore the company had to think of a new strategy to increase subscribers and revenue.
In addition, Thompson speaking at the FT Digital Media Conference 2014 states: ""Just under a year ago we outlined our strategy to expand our digital product portfolio to continue to grow digital revenues. Our goal with this next phase of our paid products strategy is to satisfy the demand for Times journalism by giving new subscribers the ability to choose the amount of access they desire at a price point that suits them." This establishes that the company's new approach on launching a digital package for a cheap price compared to their other packages is to increase revenue and subscribers. Notably, The New York Times will now offer unlimited access to a new iPhone app which would update new streams for quick reading, and will be different from the standard news app.
Overall, it can be argued that the launch of a digital package will help attract new subscribers to The New York Times as they can engage with the new package. This shows that the development of new media has helped some companies gain more revenue through subscription, paywalls and launching new digital packages. The fact that people can now access news through tablets, smartphones and on the website shows that news is more accessible and instant, which would not be possible through traditional forms of media.
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