The New York Times’ strategy to double digital revenue by 2020: Step back from platforms and focus on its own products

This week, The New York Times hit the milestone of 1 million digital subscribers, but it’s already set its sights on a new goal: Doubling its digital revenue to $800 million by 2020, from $400 million in 2014. To do that, NYT says it will step back from platforms and instead focus on its own products and services. NYT says it will still make its content available on other platforms like Facebook’s Instant Articles, but it will focus on recreating its “same daily must-read essentiality” on mobile.

+ NYT may also transform its subscription strategy, making subscriptions less expensive and possibly doing away with its current smartphone/tablet/web bundling setup (CNN Money) and more takeaways from the memo: NYT will expand its international reach and improve its advertising and sponsorships(Nieman Lab)