New York Times Reports Strong Quarter on Digital Revenue Growth

[mahatmakanejeeves]

Source: New York Times

New York Times Reports Strong Quarter on Digital Revenue Growth
By SYDNEY EMBER JULY 27, 2017

Robust digital growth powered The New York Times Company to one of its strongest quarters in recent years, as rising digital advertising revenue and new online subscriptions offset continued declines in print advertising.

The company said on Thursday that digital advertising revenue in the second quarter rose 23 percent, to $55 million. That represents nearly 42 percent of total advertising revenue, compared with 34 percent in the same quarter last year.

The company also added 93,000 net digital-only subscriptions for its news products, driving revenue in that category to $83 million, a 46 percent increase over the same period a year ago. ... Including subscriptions for its crossword product, The Times has more than 2.3 million total digital-only subscriptions.

Print advertising remained a challenge, as it has across the industry. Revenue in that category fell 11 percent in the quarter, to $77 million. But total advertising revenue, bolstered by strong growth on the digital side, bucked an industry trend and grew slightly, to $132 million, from $131 million in the same quarter last year. .... Another notable bright spot: For the first time, digital-only subscription revenue ($83 million) exceeded print advertising revenue ($77 million).

Follow Sydney Ember on Twitter @melbournecoal.

Read more: https://www.nytimes.com/2017/07/27/business/new-york-times-company-2q-earnings.html

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Retweeted by David Fahrenthold: https://twitter.com/Fahrenthold

Buoyed by digital growth, The New York Times had one of its strongest quarters in recent years

Link to tweet

[Gothmog]

1. The newspaper war between the NYT and the WP has been great

I am glad to see that the healthy competition between the NYT and the Washington Post has been financially profitable

[mahatmakanejeeves]

2. You mean the failing New York Times and the lyin' Amazon Washington Post? NT

[Gothmog]

4. Yep

[BumRushDaShow]

3. I went to digital-only last year

after being a 7-day/wk print subscriber since 1976 here in Philly (back when they offered the subs to high schools here). The best part about the digital version is their ability to do real-time reporting for consumption vs the consumer having to wait until the next day to read the story (which is why back in the day, most of the large urban papers used to have both a "morning" and "evening" edition to try to catch up with the entire day's events). The other great thing directly tied to that is the breaking news banners that come up on my phone and tablet, so if I'm off doing something else (and not near a TV or radio), I can look for those alerts and read about what critical thing happened, and then go from there to another media format if necessary.