The Athletic [NYT Buying It] Layoffs, Changing Model

[Crap Throwing Clavin]

1 minute ago, IDBillzFan said:

 

And their countless articles about how Colin Kaepernick isn't in the NFL because he refused to be a slave.

 

 

About how Kaepernick isn't in the NFL because he refuses to be enslaved and his enslavers refuse to re-enslave him.

 

Aesop's considering, from the grave, renaming his fox-and-grapes parable to "The Quarterback and the Niners."

[RochesterRob]

2 minutes ago, Crap Throwing Monkey said:

 

About how Kaepernick isn't in the NFL because he refuses to be enslaved and his enslavers refuse to re-enslave him.

 

Aesop's considering, from the grave, renaming his fox-and-grapes parable to "The Quarterback and the Niners."

   Aesop's name is too synonymous with personal responsibility.  All his stories will be banned and/or burned before Biden/Harris Administration is through.

[Foxx]

The Athletic is already a money losing venture.

 

It's a relatively small article and due to the DMCA and the Fair Use act, I can only quote so much of the article. I guess they were looking to get a minimum of $750mm

 

The Athletic Lost $41M in 2020

The Athletic anticipates profitability in 2023, but it has absorbed heavy losses over the last two years.

 

The subscription-based sports media company lost $41 million in 2020, after absorbing a $54 million loss the year before. Revenue rose to $47 million in 2020 from $26 million in 2019.

• The San Francisco-based company projects $77 million in revenue with $35 million in net losses this year. ...

[Core Four]

1 hour ago, Foxx said:

The Athletic is already a money losing venture.

 

It's a relatively small article and due to the DMCA and the Fair Use act, I can only quote so much of the article. I guess they were looking to get a minimum of $750mm

 

The Athletic Lost $41M in 2020

The Athletic anticipates profitability in 2023, but it has absorbed heavy losses over the last two years.

 

The subscription-based sports media company lost $41 million in 2020, after absorbing a $54 million loss the year before. Revenue rose to $47 million in 2020 from $26 million in 2019.

• The San Francisco-based company projects $77 million in revenue with $35 million in net losses this year. ...

 

Ah, with those type of losses no wonder why the NYT wanted the Athletic.

[Jauronimo]

5 hours ago, IDBillzFan said:

 

You underestimate how many woke Bills fans there are. Spend some time ATOP, if you haven't. It's loaded with Bills fans so far left they will tell you that last 1/6 is just as bad as 9/11. They won't be happy until NFL player jerseys replace player names with player preferred pronouns.

Both this site and TBD have enough active members that were at the capitol on 1/6 waiting for Elvis to appear or some similarly nonsensical occurrence that any comparisons to 9/11 are quickly rebutted with first person accounts.   

[KD in CA]

4 hours ago, Foxx said:

The Athletic is already a money losing venture.

 

It's a relatively small article and due to the DMCA and the Fair Use act, I can only quote so much of the article. I guess they were looking to get a minimum of $750mm

 

The Athletic Lost $41M in 2020

The Athletic anticipates profitability in 2023, but it has absorbed heavy losses over the last two years.

 

The subscription-based sports media company lost $41 million in 2020, after absorbing a $54 million loss the year before. Revenue rose to $47 million in 2020 from $26 million in 2019.

• The San Francisco-based company projects $77 million in revenue with $35 million in net losses this year. ...

 

The losses are less important to investors than the growth.

 

Revenue:

2019 - $26m

2020 - $47m

2021 - $77m

2022P - $119m

2023P - $156m

 

Expenses:  

2019  - $80m

2020 - $88m

2021 - $112m

 

So, 200% increase in revenue vs 40% increase in costs over the last two years?  Yes please. That's a very good trend and why they are worth $550MM.   At the revenue growth rates projected in the article, they'll hit/beat breakeven in 2023.

 

I'm a pessimist, so my board member question would be, 'have you tapped out the bulk of the hard core sports fans and if so, how can you sustain subscriber growth?'.   The answer of course would be 'we're going to leverage the huge NY Times subscribe base to drive continued growth.'   And they might....we'll see.

[Ann]

Oy:
 

</snip>
 

The Athletic will continue to operate as a standalone site, the Times said in its announcement. New York Times Company CEO Meredith Kopit Levien told investors on a call following the news that they would initially offer The Athletic as a separate subscription and ultimately offer it as part of a “broader Times bundle.” She said in a statement in the release that the vertical would give subscribers more extensive coverage of sports teams and leagues, while the Times offers “sports coverage for a general interest audience."
 

</snip>

[Arm of Harm]

On 10/5/2021 at 10:28 AM, IDBillzFan said:

 

Watching The Athletic go broke is disappointing, but when it's dead and buried I suspect we'll look back to see a handful of people who make a shitload of money off the venture without keeping their own cash flowing back into the venture. You don't just blow through $25M with 600 employees, most of whom are earning peanuts, without a handful of people cruising around in their new yachts.

 

 

I don’t know how much an average Athletic employee earns, but for the sake of spitballing I chose an employer cost of $45,000 per employee. (Employee’s take home pay plus employment taxes.) $45,000 x 600 = $27 million per year. Plus they have other expenses. I’m assuming they did some advertising, for example. Then there’s the cost of renting their building. While I’d obviously need to look at their actual numbers before drawing hard and fast conclusions, this does not immediately jump out at me as yacht buying. 

[Ann]

The $1 per month for 6 months ($6) offer for new subscribers is up on their website again. Just click an article and you will see the offer at the bottom of the page.

[Taro T]

2 hours ago, Ann said:

The $1 per month for 6 months ($6) offer for new subscribers is up on their website again. Just click an article and you will see the offer at the bottom of the page.

 

Cool.

 

Trick that isn't quite as good for existing subscribers but still is good is to cancel your subscription before it renews at $6-$7/month.  After canceling, got an e-mail w/ an offer of 1 year for $19.  Will even give the NYT that much to read the Athletic for a year.  (Considering, only read it regularly for a couple of months/year can't justify paying full price,)

[Ann]

$1.99 deal

 

 

 

[Ann]

I am waiting for the NYT to ruin it, but as of now the Athletic is worth the money.

 

 

 

  https://twitter.com/JoeBuscaglia/status/1641790802551554053

[Nanker]

16 hours ago, Ann said:

I am waiting for the NYT to ruin it, but as of now the Athletic is worth the money.

 

 

 

  https://twitter.com/JoeBuscaglia/status/1641790802551554053

I hope the NYTimes expires. Sorry, I refuse to give those azz holes a penny. Was sorry to see the Times bought them and Wordle. 

Edited April 1, 2023 by Nanker

[Foxx]

Gift the Athletic for $19.99.

[You Dirty Rat]

I used to like the Athletic,  then they came up with this crazy idea to make you pay...

I was outraged 

[KD in CA]

On 3/31/2023 at 8:45 AM, Nanker said:

I hope the NYTimes expires. Sorry, I refuse to give those azz holes a penny. Was sorry to see the Times bought them and Wordle. 

My wife pays for it, so I get the crossword, Wordle and the Athletic and can still hate the NYT.  😄

[Ann]

Layoffs

 

 

 

 

 

 

 

[Ann]

 

 

[Foxx]

58 minutes ago, Ann said:

 

 

I do like the Athletic but their model really isn't sustainable. Got an email today to gift a years sub for $19.99.

[Ann]

Wow. Is this supporting the whole NYT corp??

Renewal Amount: $71.99 USD

And yes, I am renewing, but shesh.