At Cannes Lions on Tuesday morning, New York Times CEO Meredith Copit Levien defended the commercial value of serious journalism and outlined the company’s evolving approach to artificial intelligence and platform strategy during live podcast taping hosted by SEMAFOR.
On the topic of AI, Levien emphasized the company’s legal and commercial stance as an issue of intellectual property as well as data. The Times sued Openai and Microsoft over the use of content in its AI models, but also signed a licensing agreement with Amazon in May.
“You call it data – I call it IP,” says Levien. “We operate in an ecosystem shaped by a large tech company. The best outcome for everyone is a commercial contract that reflects fair value exchange and controls the way it uses its commercial property.”
She refused to disclose the Amazon Partnership financial terms, but explained that the transaction was sustainable, protective and reflective of journalism that appears “over the scope of Amazon products.”
Levien also responded to the perception that Times moved digital innovation slowly, especially compared to companies like BuzzFeed. Smith, formerly editor-in-chief of BuzzFeed News, said he once thought the times were slow to adapt. Levien countered that the company’s pace was intentional.
“We are intentional. We have the things we cherish: truth, accountability, and favor,” she said. “Everything else could change.”
She noted that previous decisions to invest in web and app products, direct distributions for consumers, and subscription growth, as examples of Times playing long games, now seem to have predictions.
“My job is to make a good looking decision in 15 years,” Levien said.
That approach will continue to be carried over to emerging platforms. Levien admitted that the Times were late to Tiktok and were cautious in the video, but said the company is now making more intentional moves on YouTube, particularly through verticals of opinion.
“If you see Ezra (Klein), I want you to think, ‘In the end, I’ll go buy a sub,'” she said.
She added that readers’ involvement across Times’ products, from research reports to lists and games, is “undetectable for the business.” He said that the Times subscription-based model relies on daily habits. This includes serving readers not only in news but also in a variety of formats and touchpoints.
Levien added that the company wants to grow its audience across the channel, but its goals are not reaching it: habits and depth.
“We don’t follow our audience. We meet curious people everywhere,” she said.
Semafor Editor-in-Chief Ben Smith asked if hostile journalism was bad for business. A position that some rival publishers have implicitly embraced – Levien has retreated.
“The role of the press is to retain the power to explain,” Levien said. “It may feel hostile, but that’s not the point. It’s about retaining the power to explain it in a way that is useful to society.”
