New York Times Revenue Rises 6.3%

The New York Times added 180,000 new digital subscribers in its second quarter, the corporate mentioned on Tuesday, bringing its whole near 10 million subscribers.

The firm reported adjusted working revenue of $92.2 million for the three months that led to June, up from $76.2 million in the identical interval final yr. The firm reported whole income of $590.9 million, a 6.3 % enhance from a yr earlier.

Revenue from digital and print subscriptions was $409.6 million, up 6.8 %. Digital promoting income elevated 6.5 % for the quarter, to $73.8 million, whereas print promoting decreased 8.6 %, to $44 million. The firm mentioned income from different sources, together with affiliate referrals by way of Wirecutter, The Times’s product-recommendation web site, had additionally elevated.

The Times had about 9.88 million subscribers throughout print and digital on the finish of June, 9.19 million of them digital-only subscribers. The firm added 780,000 web digital-only subscribers within the 12 months by way of June.

Meredith Kopit Levien, the corporate’s president and chief government, mentioned in a press release that greater than a 3rd of the almost 10 million subscribers have been now subscribed to multiple Times product. The firm now affords the core news report in addition to Cooking, Games, Wirecutter and The Athletic. She mentioned greater than half of the brand new digital subscribers added within the final quarter subscribed to the complete bundle of merchandise that The Times affords.

“We are proud of the progress we are making to build a larger and more profitable company,” Ms. Levien mentioned within the assertion.

The Athletic, the sports activities news web site that The Times purchased for $550 million in early 2022, misplaced $7.8 million within the quarter, down from a $12.6 million loss in the identical interval final yr. Its income grew greater than 55 %, to $30.4 million, throughout that point. Advertising income greater than doubled in that interval, to $5.4 million. The Times added show promoting to The Athletic’s web site and app in September.

At the tip of the quarter, there have been greater than 3.6 million subscribers with both a stand-alone Athletic subscription or entry to the sports activities web site by way of a Times bundle subscription.

Last month, The Times mentioned it might disband its sports activities desk within the coming months and as a substitute combine extra sports activities protection from The Athletic.

The New York Times Guild, which represents almost 1,500 Times staff, accused the corporate of successfully shifting union work to The Athletic, whose journalists are usually not represented by a union. The union has filed a grievance with The Times, arguing that the transfer violated the corporate’s contract.

In a press release, a Times spokeswoman, Danielle Rhoades Ha, mentioned the corporate had ensured that no staff would lose their job from the change, which might “provide readers with access to more sports journalism.”

“We disagree with the Guild’s position and believe that the collective bargaining agreement grants the newsroom the right to use third-party content to supplement its report,” Ms. Rhoades Ha mentioned.

In May, The Times reached a cope with the union for a brand new contract after contentious negotiations that stretched greater than two years. The contract gave members rapid wage will increase of as much as 12.5 %.