The New York Times Sees Better-Than-Expected Digital Subscription Growth

The New York Times has recently focused more on combining its core news with other content, from podcasts to recipes and games, to attract readers and thereby drive revenue growth.

The New York Times newspaper office in Manhattan, New York, USA. Photo: Reuters

The newspaper reported revenue of $594 million, compared with analysts' estimates of $591.9 million, according to LSEG data.

Of that, subscription revenue (both print and digital) increased nearly 8% to $429 million, while revenue from digital-only products increased more than 13% due to higher demand for accompanying services and products.

However, the New York Times added just 210,000 digital subscribers in the first quarter of this year, down from 300,000 in the previous three months.

Total newspaper advertising revenue fell 2.4% to $103.7 million last quarter, although digital ad sales rose nearly 3%.

The sports- focused Athletic publication, which the New York Times recently acquired, alone reported a 33% increase in total revenue and an 18% increase in subscription revenue.

Advertisers are shifting from print to digital and sports advertising to attract a younger, more diverse audience. The New York Times reported that print advertising revenue continued to fall about 10% and print subscription revenue fell 2%.

Hoang Hai (according to NYT, Reuters)

Source: https://www.congluan.vn/new-york-times-dat-doanh-thu-dang-ky-ky-thuat-so-cao-hon-ca-ky-vong-post294966.html