- The New York Times added 310,000 digital-only subscribers in Q1, maintaining strong growth pace
- Revenue from digital subscriptions and advertising continues to rise significantly
- The publisher remains on track to reach 15 million subscribers by 2027 despite print decline
Strong digital growth pushed The New York Times Company to 13.1 million subscribers in the first quarter, keeping the publisher on track to hit its target of 15 million subscribers by the end of 2027.
The company added about 310,000 digital-only subscribers during the quarter and has averaged roughly 330,000 new subscribers a quarter since the start of last year.
The results underline the continued strength of the Times’ subscription business at a time when many publishers are struggling to grow digital revenue. Rising advertising sales and licensing income also helped lift profits.
Total revenue rose 12 per cent year over year to $712.2 million, while adjusted operating profit increased 27.2 per cent to $117.9 million. Digital-only subscription revenue climbed 16.1 per cent to $389 million and digital advertising revenue jumped 31.6 per cent.
Digital-only average revenue per user rose 2.4 per cent to $9.77.
Print subscription revenue fell 1.1 per cent to $127.8 million. Print subscribers declined to 560,000 from 600,000 a year earlier.
Revenue from artificial intelligence licensing deals, Wirecutter affiliate referrals and other sources increased 7.8 per cent to $68.5 million.
The company forecast further growth in the second quarter, including a 14 to 17 per cent rise in digital-only subscription revenue and a high-teens increase in digital advertising revenue.
- https://www.businesswire.com/news/home/20220613005310/en/The-New-York-Times-Company-Details-the-Next-Phase-of-Its-Digitally-Focused-Strategy-and-Its-Midterm-Operating-and-Financial-Targets-at-Investor-Day – This press release outlines The New York Times Company’s strategy to reach 15 million total subscribers by year-end 2027, as announced during their Investor Day.
- https://www.bloomberg.com/news/articles/2022-02-02/new-york-times-sets-new-goal-of-15-million-subscribers-by-2027 – Bloomberg reports on The New York Times setting a new goal of 15 million subscribers by 2027, aiming to double its current customer base.
- https://www.axios.com/2022/06/14/nyt-ceo-15-million-subscribers-2027 – Axios discusses The New York Times’ plans to reach 15 million subscribers by 2027, as outlined by CEO Meredith Kopit Levien.
- https://www.thewrap.com/new-york-times-q1-earnings-2024/ – TheWrap reports that The New York Times added 210,000 digital subscribers in the first quarter of 2024, bringing the total to 9.9 million.
- https://www.sec.gov/Archives/edgar/data/71691/000007169124000103/pressrelease03312024.htm – The SEC filing provides detailed financial results for The New York Times Company for the first quarter of 2024, including subscriber growth and revenue figures.
- https://www.axios.com/2025/01/21/nyt-eyes-us-subscription-bundle-partners – Axios reports on The New York Times exploring subscription bundle partnerships with smaller U.S. publishers to expand its subscriber base.
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