This is one hour, 25 minutes. A good evening. I have the great privilege of being the president of this extraordinary institution hunter college. A great pleasure to welcome you to the future of the New York Times. This event is hosted by i were roosevelt house Public Policy institute. Thanks to the Arthur Sulzberger jr. And dean baquet and Jack Rosenthal more people rsvpd then roosevelt house Public Policy institute could handle. The roosevelt longer complex relationship with the New York Times. When he was in the white house Franklin Roosevelt begin each day by reading five newspapers and the first one is usually picked out was the New York Times. The times islam some supportive of his programs especially in the early years and endorsed him in 1932 1936. The times consider probusiness policies. The less issue irritated fdr since the times financial pages were showing strong economic growth. That prompted him his only public criticism of the paper. He said what it be nice if the editorial writers of the New York Times could get acquainted with their own experts . The times returned to fdr when he ran for a fourth time. It offered the assessment in the eloquent assessment of the new deal these measures were aimed at correcting abuses and extravagances by the depression. And in establishing a country a larger degree of social justice. Fdr was of course one of the lowlight a president who had their ups and downs with the New York Times from Abraham Lincoln to the current incumbent. This extraordinary history makes discussion on the papers future in revolutionary change and a media in general and newspapers in particular such a powerful draw. I want to express deep gratitude to the underwriters of this is some in a roosevelt houses. While we are expressing gratitude, a special order. Moderator Jack Rosenthal, was done a particularly superb job in the past year as the interim director of roosevelt house. This Evenings Program is special for jack because he spent 40 years at the New York Times wednesday Pulitzer Prize among his many roles for in 1980 71 Arthur Sulzberger, jr. Was a deputy holistic in 1981 when Arthur Sulzberger, jr. Was a deputy jacks report could be something give the readers the time any form they want great it was announced by print managers who dismiss digital as a passing fad. To the door credit, Arthur Sulzberger, jr. Resisted and took the advice and pressed the times to this as long online as an print. Arthurs colleagues realized it is not print or digital. It is what it has always been, did we get the story and did we get a right . The platforms may change but the times is dedicated to those gold, it has won wall. Prices. Has won wall full of prizes. Our motto is the care of the future is mine. We are trying to see what is around the corner and prepare the next generation of leaders for it. Fortunately, it cannot be a better team to lead to the time then arthur and dean. Were introduced we are interested in their success and we know our nation cannot be successful without a strong and active press. Our gratitude to you, arthur and dean, for being that this discussion in all youre doing to protect americas democracy. A very hearty thank you for your leadership and roosevelt house and putting together this wonderful program. Welcome jack, arthur, and dean. [applause] jack megane let me thank you both for accepting jack let me thank you both for accepting this invitation. Not quite as eloquent but nice. [laughter] jack i want to recall late one night probably around 1980 when i encountered arthur and the times lobby wearing a Leather Jacket and carrying a lunch pail. He was cheerfully headed downstairs on his way to work. In the press room as a fourthgeneration member of the sulzberger family, he do not necessarily have to work his way up the ladder but he worked every turn. His first job was in the Washington Bureau in 1978. Later, he sold ads and worked at the metro desk and became deputy publisher and then publisher and then chairman of the Times Company in 1997. In that time, as jennifer mentioned, he was determined to make the digital times as as long as it had been in print for more than a century. Our audience tonight reflect that public concern for excellence. This program sold out overnight. Dean baquet, the executive editor of the times did work his way of the latter t ladder twice. After winning a pulitzer in chicago, he came to the times is reporter and became deputy metro editor, National Editor and then hired away by the Los Angeles Times where he served as managing editor and as the editor. Dean came back to the New York Times is Washington Bureau chief, managing editor, and in may of last year, executive editor. That means he is the number one among 1200 jobs in the newsroom where is known for his approachability and personal interest and staff members. Our topic tonight is the future of the New York Times. For many in a this audience, i think theres concern about the future of the times in print. Lets start with the basic facts. How does circulation breakdown between digital and print . How much revenue now comes from advertising and how much from circulation . Am i right to believe that print subscriptions are dropping 4 or 5 per year . Is that is right, how long will the print continue . That is yours. Arthur thank you. First of all, thank you, jack for having us here. A pleasure to be in this auditorium and thank you for starting golf was such a nice, easy quite starting off with such a nice, easy question. So let me take those in pieces. I will start what i think is the most interesting. Jack, when you and i were in our positions in earlier life as the Editorial Page Editor and deputy publisher and that period of time, roughly the Revenue Breakdown for the New York Times was 90 advertising, 10 circulation. Now, because of both print and digital, it is more 60 , 40 . 60 circulation 40 on advertising. And that is actually a story. I know it sounds like it is not. The strength is the stability of the circulation in revenue. It gives us a firmer footing on which to build our future than many of our traditional and even nontraditional competitors have. So few of them have had a digital subscription plan that has succeeded to the degree we have. And when i say succeeded, we are at somewhere around 950,000 digital pages since paid subscribers. Jack compared to what in print . Arthur i am struggling with the numbers. I say around 800 print around 800,000 a daily. That sounds about right. More on the weekends. What is interesting, you see circulation declines, all printed declines, all newspapers have. Where most of it has really been hit is on street sales. Not Home Delivery. Home delivery what we have seen over the past 10 15, 20 years, home sales are shockingly stable. If you have to your subscribers or more. Getting people to 2 years to subscribe to print the times and weekend and weekday. Find that people stay first. They really are more or less for life. That is a great debates. The digital revolution continues. People are moving hopefully, they moved to the website, to the screen no no, the homepage. [laughter] arthur i am struggling. They moved from the desktop is what im trying to say and now increasingly from the desktop to mobile. What we are seeing more and more is people come to a variety of devices over different periods of time. People will see us on the smartphone first thing in the morning and see us on the desktop at lunchtime. They will see us on their ipad later at night. And print is woven into all of that. People are across multiple platforms and that is the future. Jack their raise a question for dean. With such a large proportion of younger readers especially online can the times display is traditional high quality onto the tiny screen of the smartphone without dumbing down . Dean yes. Can i back of one second . At the heart of the question which is a question i have been asked a level four is how long was the lifespan of the print New York Times . I think the question of print versus digital has become such a distraction from the real fundamental question about journalism. I think the fundamental question about journalism is what the great Journalistic Institutions will survive . How will they survive . I guess i do not buy at all that the phone means readers of the New York Times want to read something lesser or dumber. All the evidence is people read long series on their phones. All evidence is people read we have more almost, if the goal of a newsroom and a leader of a newsroom is to be read which has got to be my fundamental goal, vendor number of readers we have in the digital era is astounding unimaginable. Take a series like the story we did on the conditions at nelson lund across the country, across the nell salons nail salons across the country, 5 Million People read it. Go to the print era where you have to readers of the print paper, that wouldve been unimaginable. My view, people want to read smart, sophisticated stories in every format. My job as the editor of the New York Times is to figure out ways to make stories in every format as smart as all full and hardhitting as possible. All evidence is we can do that. Jack arthur, a year ago you received report of your innovations committee. Called for many changes. A main point was stop being so complacent about your readership. For decades, the times has worked provides a highest quality coverage. But that is no longer good enough in the internet era. The innovations report encourage what he called Audience Development. Find a variety of ways to reaching out to potential readers. How have you responded . Arthur a great question. In the business and newsroom. I want to go back to the earlier. When i gave the 800,000, i forgot, i can clear it up. It is 1. 1 million print subscribers when you included the weekend. I want to get the number of back to where it belongs on the weekend, sunday paper. The innovation report was a wonderful wakeup call. As you might recall, it it was written on behest of dean and jill abramson, then the executive editor and empower 18 of some of our best journalists to look deep it ourselves. And then it was leaked. It was never written to be linked. At first, without it was awful. Only a few days later that we realize the power of what had happened. People around the world embraced the fact that the times had to be c the courage to do a deep journalistic dive on its self and really say what is what we are done right and what we must improve on. And ive got to say within a month, i cannot tell you how many calls i received from other Newspaper Publishers around the world asking for too common meet with the people who did the innovation report. It really was a wonderful wakeup call. When dean became executive editor at the same time, one of his first steps was to reach to our business side and take out and make for a mass executive in charge of Audience Development. As you noted, one of the great findings was the journalists must take greater responsibility for building their audience. Welcome to the world of social media. Fewer people come to our home page and more to want to engage with our journalism on facebook and other platforms. How do we get people to engage in that way . And i dare you to name the last business side person who became a head executive on the other side. There isnt any. It was a really bold move. It has worked extremely well. Well done subsequent work to say here is what were door right and what we need to push what we are doing right and what we need to push harder. As soon as you catch up, the digital universe shifts. You have to start saying, it is not as much about the search as he used to be. It is now more about social. How do we adapt . Jack of the audience all the New York Times has risen by 25 dean the audience of the New York Times has risen by 20 fibers that. I am an editor who wants the journalism of the New York Times to have impact. I do not want to do big, lush Investigative Services stories and have them going to vacuum were nobody reads it down. We have tools to make sure more people read. That is terrific. Just bang when you look at the times globally, almost 75 million users. Arthur let me head back to the relationship with business and new side. Jennifer spoke about trust in the times. Traditionally the time to try to maintain the trust by scrupulously maintaining a chinese wall between new side and business side. Now, they are not just two sides, there are the resize print news, business, and technology. There are three sides. An example was the wonderful work on nail salon workers. In my day, the times when the times launched a series, it would be a splash on page one on sunday. This one was launched online and on thursday. It led some print subscribe that why are we getting the scales the on sunday print stale stuff on sunday. Jet arthur to be clear, very few complained. We are learning and adapting. If you do not have the courage to try new things and grow, you are going to fail. Thatis the reality of the world we are in. I applaud what the dean and his colleagues did which is to increase increasingly say lets put the story out when the story is ready. There are some people who are going to read it then and others will read it later on a different in print. Not about the device. When i say device, i mean print as well. As you so eloquently stated from decades ago, we must of the platform agnostic. Go to where the people are. And increasingly that means mobile. And as you probably know, we are doing a test right now at the New York Times. Dean there is a myth, is remarkable to me as much as people look at journalism and journalists and newspaper so closely how a group we are of the history how ignorant we are of the history. Act as l. A. Times if i had a big project that was going to run about Orange County government that was the giant plate next to l. A. , next to a life and death competition. If i had a big story that was going to run about Orange County i would go to the circulation director and say please tell me which today you will have the most papers distributed in Orange County. If they said to me, monday, i would run it on monday. To me, the question i asked myself i want a story to be read. I wanted to have impact. I am fundamentally an idealist about journalism and the idea i want as many people to read it. I want it to have impact. I wanted things to change as result of hardhitting stuff. The only way you could do it is to be widely read. This permits arthur is referring to is to make sure everybody in the building knows how many of our readers are on the phone. We made it so if you type onto your laptop, it takes you to the phone app. Jack which side of the chinese wall is Audience Development lie on . Dean my view is it lies, part on my side. Probably a little bit in advertising. Can i back of one thing . The chinese wall has never been in newspapers between newsrooms and the entire business side. That was never the case. There is always been promotion. The wall of existence between newsrooms and advertising. Not a newsrooms and technology. Not newsrooms and circulation. Not newsrooms and promotion. That has always been the case. Jack talking about Audience Development, what new forums lie ahead . I would be interested in your experiments with instant articles on facebook and apples new news app. Dead what kind of stories are we doing dean what kind of stories are we doing . Jack i can make a complicated question. Risking a lot when you give these articles out for free. Arthur dean here to me is the risk. I keep going back to wanting to be read. The biggest risk is not the goal where your readers are area the biggest risk is to not to go to places where there are millions and millions of people who want to read. The biggest risk is to stay out of that world. That is why we felt we had to experiment with people like facebook and apple. Jack if the spirit is not making any money . If the experiment is not making good morning any money . Arthur that is not the case. If you do not risk knowing you were not fail, you will fail automatically. You know the famous case. Umm what was the . I am blessed without the next. The titanic fallacy. The titanic fallacy is the question, what was the fatal flaw of the titanic . Some people will say you know, the captain trying to set a worlds speed record. Some people note they do not have enough lifeboats. Some they do not build the walls high a note to ensure it was unsinkable. The answer is none of that. Even if the tide has safely made it to new york harbor, it was still doomed. Because a few years earlier two brothers had invented the airplane. So, we are in the world where we must shift the industry is great and it is there and we have boats for all of you. We must become an airplane company, too. That means trying things testing, having the courage to invest and not just financially. And say, that work on how do we build on it . And that did not work, next. Thats what were