New York Times Subscriptions, ‘Other’ Revenue Makes Up for Ad LossesA sizable dip in advertising revenue took a bite out of the newspaper's increased revenue.

[Collection]The New York Times is still succeeding with subscribers and managed to grow profits, despite a continued dip in advertising revenue and increased marketing costs. The newspaper counted net income for the second quarter of $23.6 million, a 51 percent increase from $15.6 million during the same period last year, on total revenue of $414.6 million, a slight bump of 1.8 percent from $407.1 million. Earnings per diluted share also rose to 14 cents during the quarter from 10 cents. Mark Thompson, the Times’ chief executive, noted 109,000 new digital-only subscribers joined during the quarter, bringing total subscriptions up to 3.8 million, 2.9 million of which are digital-only. “Subscription revenues accounted for nearly two-thirds of the company’s revenues, a trend we expect to continue,” Thompson said. “We continue to believe that there is significant runway to expand that base substantially.” Discussing in May first-quarter results, Thompson set a long-term goal of 10 million subscribers. During the second quarter, revenue from subscriptions grew 4.2 percent to $260.6 million. A focus on subscriptions certainly makes sense, considering continued weakness in advertising at the Times. During the second quarter, advertising revenue fell 10 percent to $119.2 million. Thompson said this dip was expected, adding: “We remain confident that we

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