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New York Times (NYSE:NYT) Stock, Option Chain

New York Times

New York Times Co is an American media company known for publishing its flagship newspaper, The New York Times. The company also operates the International New York Times newspaper, as well as digital properties such as NYTimes and various smartphone applications. The company has two segments New York Times Group and The Athletic. The company generates the majority of its revenue from the NYTG segment. The NYTG and The Athletic segments derive revenue from subscriptions, Advertising, and others, where the major source of revenue for both segments is subscription.

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New York Times Company approved a $350 million share repurchase program; Shares are trading lower in the premarket session on Wednesday.

New York Times Beats Q4 Earnings But Misses Sales, CEO Hints At Pipeline Of New Content And Shows

London,,United,Kingdom,-,July,11,,2024:,Ryan,Reynolds,,Hugh

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A look at the most-searched movies, TV shows, actors, musicians and games on Google in 2024.

&#39;Inside Out 2,&#39; &#39;Deadpool &amp; Wolverine,&#39; &#39;Baby Reindeer&#39; Google&#39;s Top 2024 Entertainment Searches

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Joe Rogan had one of the top listened to podcasts on Apple for 2024. Two podcasts ranked ahead of the popular media figure.

Joe Rogan&#39;s Trump Podcast Episode Couldn&#39;t Land Him Top Spot On Apple

New York Times Company (The) Common Stock

New York Times Co

New York Times Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>) shares are trading lower in the premarket <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">session on Wednesday</a>.
Here&#8217;s what the company <a href="https://nytco-assets.nytimes.com/2025/02/Q4-2024-Earnings-Release-Final-for-Distribution.pdf" target="_blank" rel="noreferrer noopener">reported</a>:
<ul>
<li>Fourth-quarter adjusted earnings per share of 80 cents beat the street view of 74 cents. </li>
<li>Quarterly sales of $726.6 million missed the analyst consensus estimate of $726.65 million.</li>
<li>350,000 net digital-only subscribers gained; the total hovers at 11.43 million.</li>
<li>Digital-only ARPU rose 4.4% to $9.65 due to price increases and subscriber transitions.</li>
<li>Digital subscription revenues grew 16.0%, while digital advertising revenues increased 9.5%.</li>
<li>Total subscription revenues increased 8.4% to $466.6 million in the fourth quarter. </li>
<li>Advertising revenues increased 0.6% to $165.1 million</li>
<li>Digital advertising revenues increased 9.5%</li>
<li>Print advertising revenues decreased 16.4%.</li>
<li>Adjusted operating profit margin was 23.5%, a year-over-year increase of approximately 70 basis points.</li>
</ul>
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/health-care/25/01/43321236/rfk-jr-and-big-pharma-stocks-to-watch-as-health-secretary-hopeful-answers-pointed-questions-on-drugs-insurance-trump-exec-orders" rel="noreferrer noopener">RFK Jr. And Big Pharma: Health Secretary Hopeful Answers Pointed Questions On Drugs, Insurance, Trump Exec Orders</a>
The New York Times approved a $350 million share repurchase program and declared a 5 cent increase in its dividend to 18 cents per share. The dividend is payable on April 17.
New York Times CEO Meredith Kopit Levien said, &#8220;Deep engagement fueled our multi-revenue stream model, and enhanced our durability even in a dynamic information ecosystem.&#8221;
In its<a href="https://event.choruscall.com/mediaframe/webcast.html?webcastid=LE3YM0cp" target="_blank" rel="noreferrer noopener"> conference call</a>, Levien announced the company will have a pipeline of new content, shows, features, games, and enhancements this year. There is also strong demand for the company&#8217;s lifestyle products, she added. 
When it comes to sports, The Athletic&#8217;s revenues grew 29% in the fourth quarter of 2024 to $49.7 million from $38.5 million in the fourth quarter of 2023.
Price Action: New York Times shares are trading lower by 11.3% to $49.55 at last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43475015/spotifys-strong-subscriber-growth-and-rising-margins-keep-analysts-bullish" target="_blank" rel="noreferrer noopener">Spotify Is Still One Of Top 4 Best Ideas For 2025: Analyst</a></li>
</ul>
Image: Shutterstock

WIIM

New York Times shares are trading lower after the company reported Q4 financial results and missed its revenue estimate.

New York Times CEO Meredith Kopit Levien: Says Company To Have Pipeline of New Content, Shows, Features, Games And Other Enhancements This Year; There Is 'Real Demand' For Company's Lifestyle Products; Company Has 'Big Opportunity' With The Athletic to Build Audience

Dividends

New York Times Raises Dividend From $0.13 To $0.18

Buybacks

New York Times Board Approves $350M Buyback Program

New York Times (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>) reported quarterly earnings of $0.80 per share which beat the analyst consensus estimate of $0.74 by 8.11 percent. This is a 14.29 percent increase over earnings of $0.70 per share from the same period last year. The company reported quarterly sales of $726.60 million which missed the analyst consensus estimate of $726.65 million by 0.01 percent. This is a 7.45 percent increase over sales of $676.22 million the same period last year.

Earnings Beats

Earnings Misses

New York Times Q4 2024 Adj EPS $0.80 Beats $0.74 Estimate, Sales $726.60M Miss $726.65M Estimate

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Earnings Scheduled For February 5, 2025

The year 2024 brought a flood of new movies and TV shows to theaters, broadcast networks, <a href="https://www.benzinga.com/topic/streaming">and streaming platforms.</a>
Here's a look at the most-searched items across the world of entertainment in 2024.
Movies and Television: When looking for information on television shows and movies, consumers often turn to Google, the search engine owned by Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), the same place where they searched for information on trending topics like the Olympics and <a href="https://www.benzinga.com/general/education/24/12/42417615/copa-america-summer-olympics-donald-trump-presidential-election-hurricanes-and-more-top-10-google-searches-in-2024">2024 presidential election.</a>
These were the top 10 most-searched movies on Google in <a href="https://trends.withgoogle.com/year-in-search/2024/?utm_source=blog.google&amp;utm_medium=referral&amp;utm_campaign=yis2024">2024</a>:
<ol>
<li>Inside Out 2</li>
<li>Deadpool &amp; Wolverine</li>
<li>Saltburn</li>
<li>Beetlejuice Beetlejuice</li>
<li>Dune: Part Two</li>
<li>It Ends with Us</li>
<li>Oppenheimer</li>
<li>Kung Fu Panda 4</li>
<li>Alien: Romulus</li>
<li>Terrifier 3</li>
</ol>
The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) led the way with "Inside Out 2," "Deadpool &amp; Wolverine" and "Alien: Romulus" ranking in the top 10 searches. "Inside Out 2" and "Deadpool &amp; Wolverine" are the <a href="https://www.boxofficemojo.com/year/2024/?ref_=bo_yl_table_1">highest </a>grossing movies domestically and worldwide for 2024, making their appearance on the list no huge surprise.
"Saltburn" ranked third, which might be thanks to some viral scenes in the movie from Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), released in theaters and streamed on Prime Video.
Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) had several films on the list with "Beetlejuice Beetlejuice" and "Dune: Part Two," which rank sixth and seventh for domestic box office revenue for the year.
Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) also has several films on the list with "Oppenheimer" and "Kung Fu Panda 4."
On the television front, Google&#8217;s top searches focused on streaming shows. Here are the 10 most-searched TV shows worldwide in 2024:
<ol>
<li>Baby Reindeer</li>
<li>Fallout</li>
<li>House of the Dragon</li>
<li>Heeramandi</li>
<li>Shogun</li>
<li>The Perfect Couple</li>
<li>Queen of Tears</li>
<li>Marry My Husband</li>
<li>3 Body Problem</li>
<li>Nobody Wants This</li>
</ol>
The global list included several foreign series, with many of them streamed to the U.S. and other parts of the world.
Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) led the way for series on the top-searched list with the rights to "Baby Reindeer," "Heeramandi," "The Perfect Couple," "Queen of Tears," "3 Body Problem" and "Nobody Wants This." With six of the 10 most Googled series globally for the year, Netflix continues to show its dominance in the streaming sector.
Amazon's Prime Video had two series on the list: "Fallout" and "Marry My Husband." Disney, with its FX arm and Hulu streaming platform, had "Shogun." Warner Bros. Discovery had one series on the list: "House of the Dragon," which airs on HBO and streams on Max.
Read Also: <a href="https://www.benzinga.com/news/23/12/36184608/top-10-google-searches-for-events-people-in-2023-war-in-israel-titanic-sub-hurricanes-shootings-dama">Top 10 Google Searches For Events, People In 2023: War In Israel, Titanic Sub, Hurricanes, Shootings, Damar Hamlin, Travis Kelce And More Of Big Interest Around The World</a>
Actors, Musicians, and Games: Google also shared the top 10 lists for other entertainment categories for 2024.
These were the most-searched actors in 2024:
<ol>
<li>Katt Williams</li>
<li>Pawan Kalyan</li>
<li>Adam Brody</li>
<li>Ella Purnell</li>
<li>Hina Khan</li>
<li>Kieran Culkin</li>
<li>Terrance Howard</li>
<li>Nimrat Kaur</li>
<li>Sutton Foster</li>
<li>Briggitte Bozzo</li>
</ol>
These were the most-searched musicians in 2024:
<ol>
<li>Diddy</li>
<li>Usher</li>
<li>Linkin Park</li>
<li>Sabrina Carpenter</li>
<li>Justin Timberlake</li>
<li>Angela Aguilar</li>
<li>Drake Bell</li>
<li>Tracy Chapman</li>
<li>Dave Grohl</li>
<li>Angelina Mango</li>
</ol>
These were the 10 most-searched games on Google in 2024:
<ol>
<li>Connections</li>
<li>Palworld</li>
<li>Infinite Craft</li>
<li>Sprunki</li>
<li>Helldivers 2</li>
<li>Wuthering Waves</li>
<li>Black Myth: Wukong</li>
<li>Strands</li>
<li>Brawl Stars</li>
<li>PokeRogue</li>
</ol>
This year's entertainment lists don't feature Taylor Swift and while they have several names who proved to make headlines for negative reasons, the list doesn't include the likes of Johnny Depp, Amber Heard, Will Smith and Chris Rock who dominated headlines in years past.
One notable entry on the list is Connections, which tops the games list. The popular word game puzzle from The New York Times (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>) is the company's second most popular game, trailing Wordle, which formerly dominated Google searches.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/12/42377867/most-visited-wikipedia-pages-in-2024-trump-harris-musk-swift-politics-and-netflix-dominate-list">Most Visited Wikipedia Pages In 2024: Trump, Harris, Musk, Swift, Politics And Netflix Dominate List</a></li>
</ul>
Photo: Fred Duval/Shutterstock.com

'Inside Out 2,' 'Deadpool & Wolverine,' 'Baby Reindeer' Google's Top 2024 Entertainment Searches

Joe Rogan's podcast is among the most listened to in the world but for Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) users, the podcaster ranked third in 2024, despite having one of the most listened to episodes with his Donald Trump interview <a href="https://www.benzinga.com/news/24/10/41561452/trump-to-joe-rogan-biggest-mistake-was-trusting-bad-and-disloyal-people">before the 2024 election.</a>
What Happened: Rogan <a href="https://www.benzinga.com/markets/equities/24/02/36914209/spotify-inks-multiyear-deal-with-podcast-king-joe-rogan-amid-shifting-strategy">renewed a multi-year deal</a> with Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) earlier this year, which comes after four years of exclusivity with the music company and huge listener figures put up year after year.
Unlike past agreements with Spotify, Rogan's podcast "The Joe Rogan Experience" is no longer exclusive to Spotify and Rogan is free to share episodes on other platforms like Apple, Amazon and YouTube, the video platform owned by Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>).
Some listeners love the video aspect that shows Rogan and the interviewee, so videos and clips on <a href="https://www.youtube.com/@joerogan">YouTube </a>have often generated millions of views.
Rogan's interview with Trump before the 2024 election has 51 million views on YouTube, compared to Rogan's 18.6 million YouTube subscriber figure. Interviews with J.D. Vance and Elon Musk before the 2024 election each have 18 million viewers.
While Rogan will likely rank as the top listened-to podcast on Spotify, the same can't be said for Apple podcasts. Apple recently <a href="https://www.apple.com/newsroom/2024/11/apple-shares-the-most-popular-podcasts-of-2024/">shared </a>its list of top podcast rankings for 2024.
Here are the top shows on Apple podcasts:
<ol>
<li>The Daily</li>
<li>Crime Junkie</li>
<li>The Joe Rogan Experience</li>
<li>Dateline NBC</li>
<li>SmartLess</li>
<li>Huberman Lab</li>
<li>This American Life</li>
<li>New Heights with Jason &amp; Travis Kelce</li>
<li>Up First From NPR</li>
<li>Morbid</li>
</ol>
While many consider Rogan the new media, he failed to beat out the podcast from legacy media company The New York Times Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>), which is <a href="https://www.nytimes.com/column/the-daily" target="_blank" rel="noopener">behind </a>"The Daily." The show, hosted by Michael Barbaro and Sabrina Tavernise, lasts around 20 minutes a day, five days a week.
"Crime Junkie," a weekly true crime podcast, also surpassed Rogan on Apple's year-end rankings.
"The Tucker Carlson Show" ranked first as the top new show on Apple podcasts.
Rogan's interview with Trump, titled #2219, ranked as the second top episode for Apple, trailing the Crime Junkie episode "SERIAL KILLER: The Alphabet Murders Part 1." The episode was also the fifth most shared Apple podcast for the year.
Tucker Carlson held the title for the most shared podcast episode with &#8220;Calley &amp; Casey Means: The Truth About Ozempic, the Pill, and How Big Pharma Keeps You Sick.&#8221;
A "Call Her Daddy" podcast episode with presidential candidate Kamala Harris was the year&#8217;s ninth most shared Apple podcast episode.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent112724">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: The podcast rankings are only for Apple, and Rogan will likely top the Spotify annual list when it is released before the end of the year. No longer being exclusive could allow Rogan&#8217;s content to be accessed from multiple platforms, potentially broadening his audience while distributing viewership and listenership across various channels.
Despite being the most followed show on Apple Podcasts, &#8220;The Joe Rogan Experience&#8221; did not secure the top spot in the platform&#8217;s year-end rankings. This outcome is unexpected, especially considering the podcast&#8217;s high-profile guests, including former President Donald Trump.
While &#8216;The Daily&#8217; releases five episodes a week, Rogan typically puts out four. However, Rogan's interviews are significantly longer, often lasting several hours, compared to the shorter format of &#8216;The Daily.&#8217;
Rogan&#8217;s ranking among the top-listened-to podcasts on multiple platforms and generating millions of views on YouTube show that his popularity is not slowing down.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/11/42024571/joe-rogan-says-harris-avoided-podcast-due-to-one-issue">Joe Rogan Says Harris Avoided Podcast Due To One Issue</a></li>
</ul>
Photo: Featureflash Photo Agency/Shutterstock.com

Joe Rogan's Trump Podcast Episode Couldn't Land Him Top Spot On Apple

Editor&#8217;s Note: This story has been updated with a confirmation from ValueAct Holdings.
ValueAct Holdings, L.P. reported holdings worth $3.9 billion in the September quarter after it disclosed major changes in its 13F filing for the third quarter of current fiscal. 
What Happened: One of the major changes in its holdings during Q3 was the addition of 211,500 shares of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) for $121.07 million, representing 3.08% of its total portfolio.
ValueAct Holdings is a hedge fund popularly known for its activist strategies, run by chief executive officer, Mason Morfit. An activist hedge fund usually follows an event-driven strategy and acquires sufficient equity to influence a company's policies, to increase company value. ValueAct has a long history of investing in technology companies and is generally considered to be more constructivist and collaborative than other activist funds.
A ValueAct spokesperson confirmed to <a href="http://pro.benzinga.com">Benzinga</a> that the firm has built a $1 billion stake in Meta.
In 2022, Brad Gerstner&#8216;s Altimeter Capital targeted Meta, urging the company to reduce its workforce. Gerstner articulated his concerns in <a href="https://www.benzinga.com/news/22/10/29380959/meta-investor-proposes-curb-on-employees-strength-metaverse-spending">a letter titled &#8220;Time to Get Fit.</a>
ValueAct fund's specific intentions remain unclear, but CEO Morfit is reportedly supportive of Meta CEO Mark Zuckerberg&#8217;s strategic focus on advancing artificial intelligence initiatives, <a href="https://www.cnbc.com/2024/11/12/activist-valueact-has-1-billion-stake-in-meta-sources-say.html">according</a> to CNBC.
Why It Matters: According to its Q3 <a href="https://13f.info/13f/000141881224000021/compare/000141881224000017">13F filing</a>, ValueAct has acquired a passive stake in the parent company of Facebook, Instagram and WhatsApp, namely, Meta. It is one of the largest companies to be targeted by an activist investor, with a market cap of nearly $1.5 trillion. The hedge fund also increased its investment in <a href="https://www.benzinga.com/m-a/24/01/36471982/disney-partners-with-valueact-capital-for-strategic-counsel-in-anticipation-of-2024-shareholder-meet">The Walt Disney Co</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) by adding 1.33 million shares taking its total value to $718.04 million in ValueAct&#8217;s portfolio.
Also Read: <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42001972/chinese-retail-sales-pickup-in-october-heres-whats-happening-with-alibaba-jd-and-pinduoduo-shares">Chinese Retail Sales Pickup In October: Here&#8217;s What&#8217;s Happening With Alibaba, JD And Pinduoduo Shares</a>
Other Key Changes To The Portfolio
Apart from adding Meta, ValueAct has made some major changes to its portfolio which consists of ten holdings. The fund has increased its stake in the American video game developer Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) by adding 7.83 million shares in Q3. It now represents 8.81% of ValueAct&#8217;s portfolio, having a total value of $448.62 million.
Live Nation Entertainment Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), Visa Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) and Liberty Media Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LLYVK#NASDAQ">LLYVK</a>) are other new holdings that ValueAct has added to its portfolio.
The hedge fund also reduced 806.96 thousand shares in Expedia Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) and completely exited Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), Finserv Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), KKR &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), New York Times Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>) and Flutter Entertainment PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>).
Read next: &nbsp;<a href="https://www.benzinga.com/general/market-summary/24/11/41968003/gold-drops-to-a-two-month-low-as-investors-turn-to-bitcoin-after-trumps-victory-but-this-economist-remains-confident-that-gold-will-surge" target="_blank" rel="noreferrer noopener">Gold Drops To A Two-Month Low As Investors Turn To Bitcoin After Trump's Victory, But This Economist Remains Confident That ‘Gold Will Surge'</a>
Image via Wikimedia Commons

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Activist Hedge Fund ValueAct Boosts Meta Stake With $121M Bet, But CEO Morfit Supports Mark Zuckerberg's AI Vision: Here's What Investors Should Know (Updated)

Hedge Funds

ValueAct Holdings' Q3 2024 13F Filing Reveals Full Exits From Spotify, Fiserv, KKR & Co., New York Times With 1.34M Shares, And Flutter Entertainment

JP Morgan analyst David Karnovsky maintains New York Times (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>) with a Overweight and raises the price target from $58 to $62.

Price Target

Analyst Ratings

JP Morgan Maintains Overweight on New York Times, Raises Price Target to $62

Deutsche Bank analyst Benjamin Soff maintains New York Times (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>) with a Buy and raises the price target from $65 to $66.

Deutsche Bank Maintains Buy on New York Times, Raises Price Target to $66

New York Times (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>) shares are moving lower on Monday. The company reported third-quarter financial results before the open. In addition, hundreds of employees represented by the Times Tech Guild <a href="https://www.benzinga.com/news/24/11/41721968/boeings-striking-machinists-vote-on-new-contract-proposal-with-support-from-both-sides">have reportedly gone on strike</a>.
Q3 Earnings Details: The company reported adjusted earnings of 45 cents per share, beating analyst estimates of 41 cents per share. The company reported sales of $640.2 million, marking a 7% year-over-year increase, but missing analyst estimates of $640.8 million, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
New York Times reported total advertising revenue of $118.4 million, total subscription revenue of $453.3 million and other revenues of $68.5 million. Growth in the other revenue segment was attributed to higher Wirecutter affiliate referral rates and licensing revenues. Digital-only average revenue per user (ARPU) was $9.45 in the quarter.
"The third quarter was another strong one for The Times as we made further progress toward becoming the essential subscription for every curious person seeking to understand and engage with the world. We passed 11 million total subscribers in the quarter, more than five million of whom now subscribe to the bundle or multiple products,&#8221; said Meredith Kopit Levien, president and CEO of the New York Times.
Related Link: <a href="https://www.benzinga.com/news/24/11/41699452/hondas-pickup-beats-tesla-cybertruck-as-most-american-made-truck">Honda&#8217;s Pickup Beats Tesla Cybertruck As Most American Made Truck</a>
What Else: According to <a href="https://variety.com/2024/digital/news/new-york-times-tech-workers-strike-2024-elections-1236199555/">Variety</a>, hundreds of employees represented by the Times Tech Guild have gone on strike. Employees in the Times Tech Guild consist of engineers, data managers and software developers that build and maintain the systems that support the company&#8217;s website and other digital applications.
The news comes a day before the U.S. presidential election and would be the first strike in the NewsGuild to collide with the election since 1964 if it continues into Tuesday. The strike is reportedly over disputes regarding fair pay and a &#8220;just cause&#8221; provision.
A spokesperson for the New York Times told Variety that the company has "robust plans in place to ensure that we are able to fulfill our mission and serve our readers."
NYT Price Action: At the time of publication, New York Times shares were down 7.22% at $52.63, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shutterstock

What's Going On With New York Times Stock Monday?

New York Times shares are trading lower after the company reported mixed Q3 financial results.

NYT Sees Q4 Digital-Only Subscription Revenues Up 14-17%, Total Subscription Revenues Up 7-9%

New York Times Added 260K Net Digital-Only Subscribers

New York Times (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>) reported quarterly earnings of $0.45 per share which beat the analyst consensus estimate of $0.41 by 9.76 percent. The company reported quarterly sales of $640.200 million which missed the analyst consensus estimate of $640.802 million by 0.09 percent. This is a 7.00 percent increase over sales of $598.345 million the same period last year.

New York Times Q3 2024 Adj. EPS $0.45 Beats $0.41 Estimate, Sales $640.2M Miss $640.802M Estimate

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) wants to capture the same magic that the viral word game <a href="https://www.benzinga.com/general/entertainment/23/01/30219599/the-10-most-searched-things-in-2022-how-wordle-queen-elizabeth-mega-millions-and-jeffrey-da">Wordle had in 2022</a>, when it attracted millions of daily players and was the most searched topic on Google.
What Happened: Netflix's newest game is already attracting plenty of attention thanks to various reviews from <a href="https://mashable.com/article/netflix-wordle-killer?test_uuid=01iI2GpryXngy77uIpA3Y4B&amp;test_variant=a">Mashable </a>and Tom&#8217;s Guide <a href="https://www.tomsguide.com/gaming/netflix-is-planning-to-launch-a-wordle-killer-next-month">labeling</a> the game as the "Wordle killer."
"TED Tumblewords" is a new daily word puzzle mobile game launching on Netflix and Ted.com on Nov. 19. The game will be available to Netflix subscribers for free with no in-game ads or in-app purchases, according to a <a href="https://variety.com/2024/gaming/news/netflix-ted-talks-word-puzzle-game-1236186651/">Variety </a>report.
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The game will allow people to compete against friends, strangers or the "TED Bot." In the game, people slide rows of scrambled letters to create words, attempting to make the longest words possible, earning points for various length word chains.
The report said players can take part in three unique puzzles every day and work to climb leaderboards. One feature that could help the game get some attention is the ability to share scores and victories on social media.
"TED Tumblewords" sees Netflix partnering with the non-profit conferences company best known for "TED Talks."
Gamers can pre-register for the game on Android and iOS ahead of the release.
Why It's Important: Netflix was reported to be exploring video games <a href="https://www.benzinga.com/trading-ideas/21/04/20726121/could-netflix-be-getting-into-video-games-earnings-call-hints-at-a-move">back in 2021</a> and in recent years has released multiple games for its subscribers.
Past video game titles and new games based on Netflix movies and television shows continue to be released by the streaming company and have passed <a href="https://www.benzinga.com/general/gaming/24/09/40802898/netflix-games-hit-210m-downloads-which-game-took-the-no-1-spot">210 million downloads </a>as of September.
Wordle was<a href="https://www.benzinga.com/news/22/01/25224359/what-is-wordle-how-to-play-the-hottest-new-free-puzzle-game-everyone-is-talking-about"> launched in November 2021 </a>and after a slow start grew to hundreds of thousands of daily players for the five-letter word game created by Josh Wardle.
The game went viral and became the top searched item on Google for the year and also attracted attention from The New York Times Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>), who <a href="https://www.benzinga.com/m-a/22/01/25327396/addictive-word-game-wordle-bought-over-by-nyt-for-low-seven-figures-what-you-need-to-know">bought the game.</a>
Word games like Wordle have helped The New York Times see daily visits from people who play the game and various other games the newspaper company has launched.
While Netflix already commands a strong amount of streaming time from its subscribers, efforts to boost subscribers and time spent on the platform comes from live specials, sports rights and video games.
With the potential "Wordle Killer," Netflix could have another way to dominate screen time.
NFLX, NYT Price Action: Netflix stock trades at $752.28 on Thursday versus a 52-week trading range of $395.62 to $773.00. Netflix stock is up 61% year-to-date in 2024.
New York Times shares trade at $54.15 on Thursday versus a 52-week trading range of $39.73 to $56.49. New York Times stock is up 13% year-to-date in 2024.
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Image: Netflix

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Netflix's 'Wordle Killer' Coming In November: Can 'Ted Tumblewords' Be The Next Viral Word Game Hit?

The Federal Trade Commission (FTC) finalized a rule Wednesday aimed at simplifying <a href="https://www.benzinga.com/news/23/06/32982143/retailers-subscription-like-prime-and-walmart-under-scrutiny-ftc-to-review-alleged-malpractices">subscription cancellations. </a>
The Details: The <a href="https://www.ftc.gov/news-events/news/press-releases/2024/10/federal-trade-commission-announces-final-click-cancel-rule-making-it-easier-consumers-end-recurring">new rule</a> is called "click-to-cancel." It aims to protect consumers from businesses that make it difficult, or even impossible, to cancel subscriptions. 
"Too often, businesses make people jump through endless hoops just to cancel a subscription," said Commission Chair Lina M. Khan. "The FTC's rule will end these tricks and traps, saving Americans time and money. Nobody should be stuck paying for a service they no longer want."
The final rule is part of the FTC&#8217;s ongoing efforts to modernize the 1973 Negative Option Rule in order to combat unfair and deceptive practices related to subscriptions and memberships. The agency reported complaints regarding recurring subscription practices have been steadily increasing over the past five years and in 2024 the FTC received nearly 70 consumer complaints per day on average, up from 42 per day in 2021.
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Why It Matters: The click-to-cancel rule will go into effect in about six months and could have major consequences for digital retailers including Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), online service providers like Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and more traditional subscriptions like The New York Times Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>). Under the new rule, companies will have to get consent for subscriptions, auto-renewals and free trials that convert to paid memberships and must "make it as easy for consumers to cancel their enrollment as it was to sign up."&nbsp;
The FTC has previously targeted Amazon's <a href="https://www.ftc.gov/news-events/news/press-releases/2023/06/ftc-takes-action-against-amazon-enrolling-consumers-amazon-prime-without-consent-sabotaging-their">business practices</a> which it claims includes enrolling consumers into its Prime subscription service without their expressed consent and then making it difficult for consumers to cancel the Prime subscriptions. The FTC has also scrutinized similar subscription services from other large retailers including Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Best Buy Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>).&nbsp;
Planet Fitness, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) has become well-known for its notoriously difficult-to-cancel gym memberships. The issue was highlighted in a <a href="https://x.com/linakhanftc/status/1479162568799395840">tweet</a> from FTC Chair Kahn and later featured in a Bear Cave <a href="https://www.benzinga.com/news/23/01/30486679/planet-fitness-an-illegal-billing-operation-with-gyms-on-the-side-short-seller">short-seller report</a> on the company.&nbsp;&nbsp;
"FTC has made clear that to comply with the law, businesses must ensure sign-ups are clear, consensual and easy to cancel," Khan tweeted in reference to a complaint about Planet Fitness's cancellation process.&nbsp;
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Image:&nbsp;Markus Winkler from Pixabay

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FTC 'Click-To-Cancel' Rule Makes It Easy To End Subscriptions: What It Means For Netflix, Planet Fitness And More

Press Releases

The New York Times Company Reports Second-Quarter 2024 Results

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The New York Times Company Declares Regular Quarterly Dividend

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The New York Times Company Reports Third-Quarter 2024 Results

The New York Times Company's President and Chief Executive Officer Meredith Kopit Levien to Participate in the UBS Global Media and Communications Conference

Diversity Your Portfolio With Small-Cap Stock The New York Times Co.

The New York Times Company to Announce Fourth-Quarter and Full-Year 2024 Financial Results on February 5, 2025

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