The New York Times is alive and well, thanks in part to its ability to adapt to a changing media landscape and reach new audiences online.
The paper’s profile has been helped also by its public feud with President Trump, who has criticized the organization’s coverage of his administration. However, the company’s ability to capture paying digital customers has allowed it to see growing profits.
“Subscription revenues made up two-thirds of the company’s revenues and for the first time, digital-only subscription revenue was more than a quarter of total company revenue,” Chief Executive Officer Mark Thompson said.
Online subscriptions have become crucial to the Times’ future, with advertisers increasingly spending on digital platforms as readers shift to online sources for their daily dose of news.
Subscription revenue from the company’s digital-only products, which allow access to news as well as its sought-after daily crossword puzzles and cooking recipes, rose 15 percent to $110 million.
Digital advertising revenue also rose – up 19 percent in the quarter, easily offsetting a 12 percent decline in print advertising revenue.