New York Times has record subscriber growth — and some bad news too

“Two numbers in The New York Times’ latest earnings report tell the story of the company’s transformation,” as CNN is reporting.

“The first number: 308,000. That’s the number of net new digital subscribers, a record gain that has been partly attributed to the Trump presidency.
‘We added an astonishing 308,000 net digital news subscriptions, making Q1 the single best quarter for subscriber growth in our history,’ Times CEO Mark Thompson said Wednesday.

“Circulation revenue is growing fast. But print ad revenue, the old backbone of the company, is declining fast. That leads to the second number: 17.9 percent.

“In the first quarter, print ad revenue declined by nearly 18 percent as big companies spent less on display ads in the paper.

“The Times noted that digital ad revenue increased by 18.9 percent — but print is still more lucrative for the Times and other major papers.

“‘Despite continued pressure on print advertising, we were able to grow overall revenues by 5 percent in the quarter,’ Thompson said.”

The rest of the article is here.

Author: jeffpelline

Jeff Pelline is a veteran editor and award-winning journalist - in print and online. He is publisher of Sierra FoodWineArt magazine and its website Jeff covered business and technology for The San Francisco Chronicle for years, was a founding editor and Editor of CNET News, and was Editor of The Union, a 145-year-old newspaper in Grass Valley. Jeff has a bachelor's degree from UC Berkeley and a master's from Northwestern University. His hobbies include sailing and trout fishing.

2 thoughts on “New York Times has record subscriber growth — and some bad news too”

  1. As paper becomes more rare, it should become more valuable, theoretically. Some publications seem to be appearing lately, at least in my field of view, with really exquisite paper and ink, and premium news-stand prices, creating a medium and context for advertising that is consumed more like artwork. I think some smart advertisers are taking advantage, not swapping all their print for digital. In fact I think I’m seeing a print Renaissance – maybe not at NYT, but still …

  2. Interesting observation Lex. I have seen and purchased some of these newer publications and agree it is the art of print that commands the premium newsstand price.

    I am reminded of a publication I always loved and once collected for its art, Interview Magazine, originally published by Andy Warhol.

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