New York Times Adds 420,000 Digital Subscribers as Q3 Revenue Rises 9.7%
Updated
Updated · The New York Times · Nov 4
New York Times Adds 420,000 Digital Subscribers as Q3 Revenue Rises 9.7%
2 articles · Updated · The New York Times · Nov 4
Summary
420,000 digital-only subscribers joined The New York Times in the third quarter, lifting total paid subscribers to 13.8 million and keeping the company on track toward its 15 million goal by end-2027.
Q3 revenue rose 9.7% to $768.5 million as digital-only subscription revenue climbed 14.6% to $421.3 million and digital advertising increased 12% to $109.9 million.
Adjusted operating profit reached $149.6 million, up from $131.4 million a year earlier, even as operating costs increased 8.7% to $618.9 million on higher compensation, administration and marketing.
Print subscriptions kept shrinking to 540,000 from 570,000 a year earlier, while digital-only average revenue per user edged up to $9.93.
For Q4, the company forecast 12% to 15% growth in digital-only subscription revenue and a high-single-digit to low-double-digit rise in digital ad revenue.