One of the more intriguing things to follow on election night (and the days after) is The New York Times’ “election needle,” which uses statistical analysis of the votes coming in and those still outstanding to predict, at any given moment, who will win.
Except this year, the needle could be on strike. Well, the people that run the needle, that is.
My Poynter colleague, Angela Fu, reports, “Tech workers at The New York Times walked off the job early Monday morning and will continue to strike until they reach a contract agreement with the company, a process that could stretch through Election Day and its aftermath. The Times Tech Guild’s approximately 650 members include engineers, project and product managers, data analysts and designers whose work supports the Times’ digital operations including its website, apps and ‘election needle.’ Roughly 95% voted to authorize a strike in September.”
Fu has all the details about the negotiations.
Senior software engineer and union shop steward Kait Hoehne said, “We are demonstrating our labor power by doing this, and it is a moment during which our labor is very visible. We are working around the clock to keep the site up, to keep all of our services running. So this was our best chance to make it very clear what our contributions to the company are and why we matter and why we deserve a fair contract.”
Times spokesperson Danielle Rhoades Ha wrote in an emailed statement that the company wants to reach a fair contract, and that the Times will continue to cover the election. She added, “We’re in one of the most consequential periods of coverage for our readers and have robust plans in place to ensure that we are able to fulfill our mission and serve our readers. While we respect the union’s right to engage in protected actions, we’re disappointed that colleagues would strike at this time, which is both unnecessary and at odds with our mission.”
There’s more …
Poynter’s Angela Fu also reports, “In Baltimore, more than 30 journalists at the Baltimore Sun Guild are participating in a weeklong byline strike that started Sunday. Stories penned by these reporters will be attributed to ‘Baltimore Sun Staff’ to signal to readers that staff are displeased with the paper’s management.
And here’s yet another item from my colleague, Angela Fu:
New York Times surpasses 11 million subscribers as it and The Athletic report a quarterly profit
The New York Times surpassed 11 million subscribers and ended its third quarter in the black, the company announced Monday.
During the quarter ending Sept. 30, the Times grew its adjusted operating profit 16.1% to $104.2 million, with much of that growth coming from digital subscription revenue. The Times added 260,000 digital subscribers to bring its total number of subscribers to 11.09 million. Nearly half of those subscribers pay for access to multiple Times products, which include nytimes.com, sports site The Athletic, product recommendations site Wirecutter and the Cooking and Games verticals.
“Our results in the quarter and all year show that we’re firing on all cylinders across the portfolio. We’ve been very, very focused on two things, and I would say both are going well. One is getting our news product and the rest of the portfolio to drive very strong … subscriber engagement,” Times CEO Meredith Kopit Levien said during an earnings call Monday. “Secondly, and this is kind of a newer focus this year, we have been intently focused on getting the lifestyle products to begin to be more powerful funnels for the bundle (subscription).”
The Times reported $640.2 million in total revenue, a 7% increase from the same period last year. The company grew both subscription and advertising revenue, even as some advertisers have continued to avoid “certain hard news topics,” Kopit Levien noted.
For the first time since its acquisition by the Times in 2022 for $550 million, The Athletic reported a quarterly profit. It made $2.6 million last quarter, up from a $7.9 million loss during the same period last year. The Times attributed the improvement to higher subscription and “other” revenues.
“The Athletic is already an important component of our bundle offering in more deeply engaging subscribers,” Kopit Levien said. “We continue to be pleased with the overall economic performance and direction of The Athletic.”
Kopit Levien also highlighted the company’s investments in its audio and video offerings. Those changes include paid subscriptions for several Times podcasts on Spotify and Apple Podcasts, a new weekly podcast from Wirecutter and increased availability of articles read by automated voice.
Operating costs at the Times increased 5.4% to $563.5 million. The company noted that those costs include $4.6 million in litigation costs stemming from its lawsuit against Microsoft and OpenAI. The Times sued both companies last year, alleging that they had violated copyright law by using Times content without permission.
Hours before the Times reported its third-quarter earnings and fourth-quarter guidance, unionized tech workers at the company went on strike. Executive vice president and chief financial officer William Bardeen said on the call that while the strike’s effects will depend on “further developments,” the company had known such a work stoppage would be a possibility. The forecasts published in the Times’ Monday report incorporate “current best estimates.”
“We’ve known this was a possibility and have prepared for a range of scenarios,” Bardeen said. “We have a track record of working effectively with unions and continue to aim for a fair contract.”
During the call, Times executives avoided directly answering a question about whether the company had benefited from the recent controversies at The Washington Post and Los Angeles Times. Both outlets have experienced a wave of subscription cancellations after they declined to endorse a presidential candidate. Instead, readers appear to be redirecting their support toward outlets that have made endorsements, like The Guardian and The Philadelphia Inquirer. (The New York Times endorsed Kamala Harris in September.)
“We take no joy in watching any other quality, independent journalism institution go through anything difficult,” Kopit Levien said. “We are laser-focused on our own strategy and our own growth trajectory, and we expect we’ll continue to attract subscribers from all sorts of places for all sorts of reasons. I’ll leave it there.”
New York Times stock was trading at $52.45 a share Monday afternoon, down 7.7% from Friday’s close.