“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.