New York Times Stock Soars on Report of Record-Breaking Digital Subscriber Growth

[jpak]

https://www.thestreet.com/story/14117194/1/new-york-times-stock-soars-on-report-of-record-breaking-digital-subscriber-growth.html

Shares of New York Times (NYT) were surging in afternoon trading Wednesday after the publisher boasted the best quarterly digital subscriber growth in its pay model history as it continues to ride the wave of interest in high-quality journalism.

The company soared nearly 13% to finish Wednesday trading at $16.10 per share.

The Times reported diluted earnings of 8 cents per share, up from 5 cents per share in the same period in 2016. Revenue rose by 5.1% to $398.8 million. Analysts had expected 7 cents per share in earnings on $382 million in revenue.

"These [subscriber] numbers, we believe, validate our thesis that there is a large and growing appetite in this country and around the world for journalism of seriousness and depth, and that a growing number of people are prepared to pay for it in digital as well as in print," CEO Mark Thompson said on an earnings call. "They also support our view that quality news is a relationship business."

<more>

But...but...but...

Teh Failing New York Times!!!111

[madokie]

1. I'm glad to see this

after helping to sell the Iraq war its about time that the NYT made amends by getting serious with journalism

[C_U_L8R]

2. Take that, Trump

Good journalism is good business

[WePurrsevere]

3. I'm one of them. NYTs dangled quite a nice deal...

I was feeling warm & fuzzy with them at the same time they offered a 50% off subscription for a year deal and since that included monthly payments I could actually afford to squeak out a subscription for once.

I've debated cancelling it over the climate change denier being hired but overall they seem better ATM so I wrote the editor a letter stating my opinion and a warning not to push their luck in adding more RW BS. Mind you once the 50% off runs out I might not be able to renew even if they stay true to facts more, we'll see then how our finances are.

[sharedvalues]

4. I'm angry at the Times. They love bothsidesism

I'm glad they're doing well, but they need to dump Stephens and get Haberman to stop printing whatever the president* says when he calls her. They need to apologise for going after Hillary for years and for the Comey stories.

NYT did a lot to cause Hillary's loss. Baquet is responsible. He needs to own up.

[lostnfound]

9. Is there any chance the digital subscribers are bots with a bank account, a deal with a devil?

The modern equivalent of buying an editor, but more quietly?

[sharedvalues]

11. That is an interesting idea.

Hmm, I had never considered that before.

I looked quickly at numbers.
https://www.nytimes.com/2017/02/02/business/media/new-york-times-q4-earnings.html
NYT total revenue is $1.6B, including subscription and advertising.

Their digital-only subscriptions are $223M in revenue.

So my guess is that buying NYT digital subscribers is not a cost-effective way for the GOP or Russia to influence the media. Far better to throw a few hundred thousand here and there at politicians, and $1-10M at various media sources like Breitbart.
It's not too far off from what the Koches and Adelson can do (both put ~$100-200M per year into buying GOP politicians and media.)

I'm sure they'd try it if feasible, however.

[lark]

5. Yep, it's the Trump bump.

I'm part of it. I've never subscribed to NYT in my life until after Russia/drumpf stole the election and now I'm subscribe for the next year and will renew if they continue to keep up the pressure.

[bucolic_frolic]

6. Trumps projected failing mind onto NY Times

Bad judgment once again

[Adrahil]

7. LOL.... I subscribed to the WaPo. NT

[rlegro]

8. Apparently, despite Trump's claim ....

... The NYT is failing upward, thanks to him.

[brooklynite]

10. ...and only yesterday, some folks here were going to bring it to its knees...

...by cancelling their subscriptions.

[Lisa0825]

12. The failing New York Times is even failing at failing! (I subscibed too!) nt