The New York Times Company Reports 11% Rise in Revenue

The New York Times Company said on Wednesday that it gained more than one million digital-only subscribers last year, helping to lift revenue from the year before despite headwinds facing the media industry.

The new subscribers, who do not include the roughly one million who came with the acquisition of the sports website The Athletic last February, bring The Times’s total number of paying subscribers to 9.6 million. The company has set a goal of 15 million by the end of 2027.

The company said it had added 240,000 net digital-only subscribers in the fourth quarter of 2022, for a total of 8.8 million. The company had 730,000 print subscribers, down from 795,000 a year earlier.

“It was our second-best year for net digital subscriber additions, behind only 2020,” Meredith Kopit Levien, the chief executive of The Times, said in a statement. “Importantly, with each passing quarter, we saw more proof that there is strong demand for a bundle of our news and lifestyle products,” she added.

Article source: https://www.nytimes.com/2023/02/08/business/media/new-york-times-earnings.html