Up to $590.9 Million in revenue: 180,000 New Digital Subscribers in NYTimes Subscription

The New York Times reported revenue of $590.9 million on Tuesday, up 6.3 percent from the same period last year, and net income of 28 cents per share, well exceeding Wall Street expectations. The New York Times announced on Tuesday that it had added 180,000 new digital subscribers in the second quarter, bringing the total to almost 10 million.

Up to $590.9 Million in revenue: 180,000 New Digital Subscribers in NYTimes Subscription
Up to $590.9 Million in revenue: 180,000 New Digital Subscribers in NYTimes Subscription

New York Times Revenue Rise: A New Digital Subscribers!

The Zacks Investment Research survey of analysts predicted $578 million in revenue and earnings of 21 cents per share. The newspaper reported an uptick in subscriber sales because of the new digital subscribers, and which for both print and digital subscriptions combined totalled $406.6 million in the second quarter, as a result of a new digital subscribers, there is an increase of 6.8%. Additionally, digital advertising income rose by 6.5 percent. However, print advertising saw an 8.6% fall.

In the second quarter, the New York Times announced the addition of 180,000 new digital subscribers, bringing the total number of subscribers close to 10 million. More than a third of those new digital subscribers were New York Times multi-product members. News, Cooking, Wirecutter, Games, and The Athletic are now part of the outlet’s extended subscription offers. Levien claims that more than half of the second quarter’s new digital subscribers signed up for the whole product bundle that was offered.

The second quarter results for The Athletic, the sports journalism website that has recently been a source of dispute for the New York Times, showed sales of $30.4 million and a loss of $7.8 million. The sports website’s $5.4 million in advertising revenue was a bright spot. More than 3.6 million stand-alone and the new digital subscribers singed up for a package subscribers to The Athletic.

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