New York Times Publication Discloses Record Digital Subscriptions

facade of The New York Times headquarters

On Wednesday, New York Times Co. announced indices for its business development for the first financial quarter of 2017. The negative markers were all related to print advertising that continues to lose influence throughout the market. On the other hand, the publication managed to achieve record digital subscriptions in the span of one-quarter. As such, digital advertising succeeded to save the company from extremely low earnings.

Record Digital Subscriptions Managed to Counterbalance a Weak Traditional Print

The first quarter of 2017 ended at the end of March. As such, New York Times has just finished its report on the quarterly evolution. Its traditional business means continue to face hard times. Revenue from print advertising sector slipped 18%. This weak evolution scavenged the total advertising revenue of 7%.

On the other hand, company reported surprising performance within its digital advertising department. Revenue here climbed 19% and reached a total amount of $50 million. This progress was also due to record digital subscriptions in one financial quarter which gathered 308,000 new online users. Therefore, the circulation revenue won a boost of 11%.

Thanks to newly empowered support from its digital subscribers, the company reported a hefty net income of $13.2 million in the first quarter. By comparison, this time last year New York Times dealt with a loss of $8.3 million.

Chief Executive Interpreted the Report in Successful Terms

Chief executive of the publication, Mark Thompson, is not demoralized by these recent findings. On the contrary, he perceives the gap between traditional and digital formats as a sign that the company managed to adapt to modern times. This flexibility describes the publication as an influential American newspaper no matter the environment it has to deal with.

“[Print advertising] is a testimony to just how far our business has already transitioned…”

Chief executive sees the rapid growth that resulted in record digital subscriptions as the triumph of several modern strategies. These are mobile development, branded content, and creative services.

Image Source: Wikipedia

Leave a Reply

Your email address will not be published. Required fields are marked *