The newspaper industry could have a major upheaval along the way.
Axios reported earlier this morning that the New York Times is “in talks” to buy The Athletic, a Web-only sports news site. Athletic launched in 2016 and currently offers coverage in 47 North American cities, as well as a number of locations in the UK. He quickly became one of the most reputable names in sports news and poached a number of high profile journalists who were fired by other media.
Based on the publicly available information on The Athletic, this could prove to be a huge problem for both sides.
CNBC reported that Athletic hit the one million subscriber mark in September 2020, and it can be assumed that the numbers have continued to rise as sports return to full operation in 2021. In that same report, the company reportedly grossed 60 million of dollars. subscription revenue alone, advertising revenue being higher.
The self-published New York Times their results for the first quarter of 2021, a quarter that saw more than 300,000 new digital subscriptions, a low threshold for new readers since 2019. Their total revenues reached $ 473 million in the first quarter, giving them money to spend for … t know … a redesigned digital sports presence.
Athletic has called on some of the most respected names in sports journalism, including Ken Rosenthal for baseball, Pierre LeBrun for hockey and Shams Charania for basketball. The New York Times has constantly improved its digital presence as the newspaper industry continues to evolve and could completely overthrow the industry with a merger like this.