March 26 (Reuters) - The New York Times Co has introduced two new digital paid apps as it expands its subscription offerings to entice new readers to pay for its products.
The new apps, available beginning April 2, will hit both ends of the price spectrum.
NYT Now will offer a selection of stories from the New York Times, as well as from other sources across the Internet, for $8 every four weeks.
A premier version of the app, called Times Premier, will give readers complete access to all the newspaper’s content, as well as additional features, such as behind-the-scenes access to the newsroom for $45 every four weeks, or an additional $10 every four weeks for home-delivery subscribers.
Anyone can access up to 10 articles per month for free but must pay to subscribe to further content beyond that.
“Our goal with this next phase of our paid product strategy is to satisfy the demand for Times journalism by giving new subscribers the ability to choose the amount of access they desire at a price point that suits them,” Mark Thompson, chief executive of the New York Times, said in a statement.
Digital subscriptions have become an important source of revenue since the company first launched its digital pay model three years ago. Subscription revenue accounted for more than 45 percent of total fourth-quarter revenue.
Still, subscription revenue has been slowing, and the newspaper has sought new readers in the U.S. and abroad to keep up growth.
The news industry will be paying close attention to these new products to see if the New York Times can pull off adding new readers without cannibalizing its pricier subscription offerings. (Reporting by Jennifer Saba in New York; Editing by Bernadette Baum)