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The New York Times sees decline in digital ad revenue, jump in digital subs

The New York Times sees decline in digital ad revenue, jump in digital subs
News in brief

The New York Times Company added 180,000 digital-only subscribers in Q2 2022, bringing its total paid subscribers to 9.17 million, the company announced in its earnings report today.

The gain amounts to a 70% increase compared to subscribers added in Q1 2021.

However, The Times generated $69.3m in digital advertising revenue, 2.4% less than Q2 2021. Overall advertising revenues increased by 4.1% year-over-year.

Total revenues amounted to $555.7m, an 11.5% increase, but adjusted operating profit decreased 4.4% as higher revenues were offset by increased costs and losses, namely at recently-acquired sports news website The Athletic.

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