The New York Times Passes 13 Million Subscribers
The company’s adjusted operating profit hit $117.9 million in the quarter, up 27.2 percent from a year earlier, on revenue of $712.2 million.
The New York Times Company now has 13.1 million subscribers, the company said on Wednesday, after adding about 310,000 digital-only subscribers in the first quarter of the year.
The company has set a goal of 15 million subscribers by the end of next year and appears to be on a pace to meet it. The Times has added an average of 330,000 total subscribers a quarter, including print, since the start of last year.
Related Knowledge Center: State of the business model
The traditional journalism business model has long since collapsed, and news organizations have shrunk or disappeared entirely. While a number of promising experiments are under way, the public has not shown a willingness to buy what news organizations are selling.