New York Times Revenue Jumps 9.7% From Subscriptions and Ads
The New York Times Company on Wednesday reported strong advertising and subscription revenue growth in the second quarter, adding 230,000 paid digital-only subscribers.
The Times now has 11.88 million total subscribers to its print and digital products, which include the news report, Cooking, Games, the Wirecutter product review site and The Athletic, a sports news site. The company has said it aims to reach 15 million subscribers by the end of 2027.
A vast majority of its subscribers, 11.3 million, subscribe only to the company’s digital products. The Times reported 580,000 print subscribers at the end of the second quarter, which ended June 30, down from 600,000 in the first quarter and 630,000 a year earlier.
Total revenue for the second quarter increased 9.7 percent from a year earlier, to $685.9 million. Adjusted operating profit increased nearly 28 percent, to $133.8 million.
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