12 Best News and Digital Media Stocks To Buy

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7. The New York Times Company (NYSE:NYT)

Number of Hedge Fund Holders: 38

The New York Times Company (NYSE:NYT) is a global media organization that offers digital and print products, newspapers, and related products. Its news product, The New York Times, is available on NYTimes.com, mobile applications, and as a printed newspaper. The company also offers associated content, such as podcasts.

The company surpassed 11 million total subscribers in fiscal Q3 2024. More than 5 million of them subscribed to multiple products or bundles. Digital subscription revenue for the New York Times Company (NYSE:NYT) underwent a 14% year-on-year increase. This growth, combined with increased digital advertising and other revenue, boosted positive growth for the company’s total revenue.

These positive results reflect the company’s strategic initiatives. These include having a diversified portfolio and making it available in a single integrated product experience. The New York Times Company (NYSE:NYT) even launched a redesign of its core New York Times App in September to make it more user-friendly.

Its multi-product portfolio continues to attract tens of millions of people each week due to its credibility and diverse offerings. Subscriber engagement, which refers to the share of subscribers who visited the Times each week, reached its highest point in the quarter since 2020. Even though the market continues to experience audience headwinds due to shifts in the platform landscape, the New York Times Company (NYSE:NYT) is growing a direct relationship with its subscribers. It added 260,000 net new digital subscribers in fiscal Q3 2024, strengthening the company’s position for its 15 million total subscribers milestone. The company takes the seventh spot on our list of the 12 best news and digital media stocks to buy.

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