<\/p>\n
The New York Times added 1.08 million digital-only subscribers over the past year, bringing its total to 11.3 million, according to second-quarter results released this week. Including print, the Times has 11.9 million subscribers.<\/p>\n
More than 6 million subscribers now fall into the bundle or multi-product category, with another 3.6 million subscribing to a single non-news product such as Games, Cooking, Audio or The Athletic..<\/p>\n
The company added 230,000 net digital-only subscribers in the quarter and reported a 15.1% year-on-year rise in digital subscription revenue, now standing at $350.4 million for the quarter. Average revenue per user also grew, up 3.2% to $9.64, driven by subscribers moving off introductory rates and by targeted price increases.<\/p>\n
Overall revenue rose 9.7% to $685.9 million, with digital advertising climbing nearly 19% year-on-year to $94.4 million. Operating profit for the quarter was $106.6 million, up 34% on the previous year. Adjusted operating profit rose 28% to $133.8 million.<\/p>\n
The Athletic, which returned to profitability earlier this year, continues to be one of the fastest-growing parts of the business. It reported a 33.4% jump in revenue, with advertising almost doubling year-on-year. Subscription revenue was up 18%.<\/p>\n
Speaking after the results, CEO Meredith Kopit Levien said the company was generating \u201csignificant free cash flow\u201d and was confident in its long-term strategy to grow through investment in both journalism and its product portfolio.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The New York Times added 1.08 million digital-only subscribers over the past year, bringing its total to 11.3 million, according to second-quarter results released this week. Including print, the Times has 11.9 million subscribers. More than 6 million subscribers now fall into the bundle or multi-product category, with another 3.6 million subscribing to a single<\/p>\n","protected":false},"author":1,"featured_media":6270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[118],"tags":[],"class_list":{"0":"post-6269","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-publishing-news"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/posts\/6269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/comments?post=6269"}],"version-history":[{"count":1,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/posts\/6269\/revisions"}],"predecessor-version":[{"id":6271,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/posts\/6269\/revisions\/6271"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/media\/6270"}],"wp:attachment":[{"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/media?parent=6269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/categories?post=6269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/tags?post=6269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}