During 2014, the Company continued to focus on growing its digital business, while also making targeted  investments in its print products. During the year, the Company introduced several new products, including NYT  Now, a smartphone app targeted to a younger audience; Times Premier, a suite of exclusive online content and  features offered to existing print and digital subscribers for an additional charge; and NYT Cooking, a collection of  recipes and outstanding food journalism of The Times available on NYTimes.com and the iPad. NYT Now and NYT  Cooking were named among the best apps of 2014 by Apple. We also made several investments in our print products,  including a major redesign of The New York Times Magazine, which relaunched in early 2015.  The Company sold the New England Media Group in 2013 and the Regional Media Group and the About  Group in 2012. The results of operations for these businesses have been presented as discontinued operations for all  periods presented. See “Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of  Operations” and Note 13 of the Notes to the Consolidated Financial Statements for additional information regarding  these discontinued operations. Our content reaches a broad audience through our print products, online and through other digital media,  including smartphone, tablet and e-reader applications. Circulation revenues are based on the number of copies of the printed newspaper (through home-delivery  subscriptions and single-copy and bulk sales) and digital subscriptions sold and the rates charged to the respective  customers. Since 2011, we have charged consumers for content provided on NYTimes.com and other digital  platforms. NYTimes.com’s metered model offers users free access to a set number of articles per month and then  charges users who are not print home-delivery subscribers, once they exceed that number. All print home-delivery  subscribers receive free digital access. The Times had the largest daily and Sunday circulation of all seven-day newspapers in the United States for the  six-month period ended September 30, 2014, according to data collected by the Alliance for Audited Media (“AAM”),  an independent agency that audits circulation of most U.S. newspapers and magazines.  For the fiscal year ended December 28, 2014, The Times’s average print circulation (which includes paid and  qualified circulation of the newspaper in print) was approximately 648,900 for weekday (Monday to Friday) and  1,185,400 for Sunday. Under AAM’s reporting guidance, qualified circulation represents copies available for  individual consumers that are either non-paid or paid by someone other than the individual, such as copies delivered  to schools and colleges and copies purchased by businesses for free distribution.  Average circulation for INYT (which includes paid circulation of the newspaper in print and electronic replica  editions) for the fiscal years ended December 28, 2014, and December 29, 2013, was approximately 219,500 (estimated)  and 220,500, respectively. These figures follow the guidance of Office de Justification de la Diffusion, an agency based  in Paris and a member of the International Federation of Audit Bureaux of Circulations that audits the circulation of  most newspapers and magazines in France. The final 2014 figure will not be available until April 2015. According to comScore Media Metrix, an online audience measurement service, in 2014, NYTimes.com had a  monthly average of approximately 31 million unique desktop/laptop visitors in the United States and approximately  42 million unique desktop/laptop visitors worldwide. In addition, according to comScore Mobile Metrix, in 2014, we  had a monthly average of approximately 28 million unique visitors to The Times on mobile devices in the United  States. Paid subscribers to digital-only subscription packages, e-readers and replica editions totaled approximately  910,000 as of December 28, 2014, an increase of approximately 20% compared with December 29, 2013. This amount  includes estimated paid subscribers through our group corporate and group education subscriptions (which  collectively represent approximately 5% of total paid digital subscribers) and home-delivery subscribers who also  subscribe to Times Premier (which represent approximately 2% of total paid digital subscribers). The number of paid  subscribers through group subscriptions is derived using the value of the relevant contract and a discounted basic  subscription rate. The actual number of users who have access to our products through group subscriptions is  substantially higher. P. 2 – THE NEW YORK TIMES COMPANY CIRCULATION AND AUDIENCE