New York Times 1Q13 Earnings Call Notes

posted in: Notes | 0

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“Paid digital subscriptions totaled more than 700,000 by the end of the quarter, an increase of more than 45% compared to the same quarter in 2012′

“Growing international subscribers is a second key component of our strategy.”

“The development of a more robust and comprehensive video presence is another strategic initiative”

“The key discovery in our research has been the people who get all digital access really want all digital access, they really want to be able to get to every part of The Times’ digital offering. And we think, therefore, although obviously, we’re going to think extremely carefully about issues of cannibalization and spend-down and so forth. We think there’s a very clear proposition, which works for a large and growing number of subscribers, with complete access. We have identified a very substantial number of people who are very interested in subscription to The Times, but at a somewhat lower price point. And with the recognition, that will mean less than complete access. And that’s the core, really, of defining and why we believe there’s a way of coming in, if you like, at a different point in the demand curve to reach a different segment of potential subscribers.”

“I said we were going to take a pause in contributions to our pension plan. We acknowledge that you don’t want to get ahead of the underfunded balance by putting money in and have interest rates move in a positive direction. So we’re going to take a pause there.”