New York Times outlines plan to grow to 15 million total subscribers by end of 2027

The New York Times Co. on Monday outlined its midterm financial targets and plans to grow its total subscriber base to 15 million by the end of 2027 in a statement ahead of its first investor day in years. “Over the past five years, we have transformed The Times into a digital-first, subscription-first definitive market leader with more than 9 million subscribers and a goal of 15 million by year-end 2027,” said Meredith Kopit Levien, chief executive officer, in a statement. “We believe we can become the essential subscription for every curious, English-speaking person seeking to understand and engage with the world.” The company is targeting midterm adjusted operating profit compound annual growth rate of 9% to 12%. It is expecting to return 25% to 50% of its free cash flow to shareholders in the midterm in the form of dividends and share buybacks. Shares were down 3.3% premarket and have fallen 32% in the year to date, while the S&P 500 has fallen 18%.

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