The New York Times announced Thursday that it reached 4 million paying subscribers in the third quarter of 2018, and generated significantly more revenue from digital subscribers than online ads. But as a growing swath of publishers attempt to diversify their businesses in a similar fashion, the majority are still looking in a familiar place for revenue growth: advertising.
Over the past few years publishers have stepped up their investments in subscription programs, commerce initiatives, licensing deals and more, in search of direct consumer revenue and a way to lessen their reliance on — and competition with — online ad behemoths Google, Facebook and increasingly Amazon.
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