New York Times Digital Advertising Rates – The votes are still to be counted, but The New York Times has finished tallying its third quarter numbers, and we can project a winner: The Times is now, for the first time, generating more revenue from digital subscribers than from its print. subscribers. And the total number of subscribers surpassed 7 million for the first time last month.
As of September 30, its number of digital subscribers increased by 45.9 percent over the previous year. The best were its “other” digital subscriptions (mainly Sports and Cooking), which were 63.6 percent. (That nomenclature is a change, by the way: What the Times for decades called “Crosswords” has now been expanded to “Games” in company files. The Spelling Bee remains a fixture.) Print subscribers, meanwhile, were down by percent. 3.9. .
New York Times Digital Advertising Rates
Overall, that’s a year-over-year increase of more than 2 million digital subscriptions. .) The Times added 393,000 digital subscribers in the quarter.
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Subscription revenue increased 12.6 percent to $301 million and digital-only product revenue increased 34 percent to $155.3 million, making digital reading the sole source of growth for The Times in the quarter. Newspaper subscription revenue fell 3.8 percent to $145.7 million “largely due to lower retail store revenue, while in-home subscription revenue increased 2.5 percent.” Advertising remains a big mess, down 12.6 percent in digital, a staggering 46.5 percent in print and 30.2 percent overall.
Meanwhile, product development costs increased by 27.9 percent compared to Q3 2019, which the Times attributes to an increase in digital product development staff related to its subscription strategy.
The earnings report shows what many of us hoped would be true for the news industry: Subscriber-first strategies and investing in high-quality journalism are paying off. And despite the challenges posed by the coronavirus pandemic and nearly five years of constant attacks on the media and the president, the Times is forecasting a 14 percent increase in total subscription revenue in the fourth quarter versus 2019, plus and a 35 percent increase in digital subscription revenue alone. The Times is on track to reach its target of 10 million subscribers by 2025 and is on track to make its digital journalism its main revenue stream.
“The continuing demand for quality, original and independent journalism across a wide range of topics makes us even more optimistic about the size of the overall digital journalism subscription market and our place within it,” said Times CEO Meredith Kopit Levien. today.
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The New York Times now has more than 7 million subscribers. Digital customer business is growing by 34%. But advertising continues to decline, both print and digital. ($nyt q3 earnings exceeded high and low) Also of note: there is $800mm in $$ in balance:https://t.co/8VZt2HlYnU — Edmund Lee (@edmundlee) November 5, 2020
NYT ad sales are down. I would imagine that will change in the next year or so. With all those subscribers and all that data, it should be easy to create a unique ad offering for customers. https://t.co/sH8uBZsRgH — Jay Yarow (@jyarow) November 5, 2020
The Times bet that by maintaining quality, rather than cutting staff, it could thrive. Perhaps only the Times could make that formula work well, but I wish more newspapers would try it. https://t.co/15N6PWiQjD — Robert Bianco (@BiancoRobert) November 5, 2020
I think the drop in ad revenue is good. Then the pressure to generate ad clicks is reduced… I guess. … New York Times Hits 7 Million Subscribers as Digital Revenue Increases – The New York Times https://t.co/f5JH0YMNxv pic.twitter.com/I8JVhKPJjI — Mike Harley, Goblin Herder (@obsolete29) November 5, 2020
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Tameez, Hanaa’. “For the first time, The New York Times’ digital subscription generates more revenue than its print.”
Tameez, H. (2020, Nov. 5). For the first time, The New York Times’ digital subscription generates more revenue than its print.
| title = For the first time, The New York Times’ digital subscription generates more revenue than its print
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Effective publishing starts with big ideas When businesses want to create unprecedented print execution they turn to T Brand Studio, the content studio within The New York Times, and experts to bring the full potential of our publishing platform to life. CUSTOM CONTENTNov 2 () – The The New York Times Co ( NYT.N ) topped quarterly profit estimates on Wednesday as more people signed up for its digital subscription package, helping to offset a decline in advertising sales.
The publisher’s shares rose 5% as it also raised its full-year adjusted operating profit outlook to the high end of its previous estimate.
The Times has been trying to reach a wider audience and increase revenue by combining its news offerings with recipes, crossword puzzles and acquired businesses such as product review site Wirecutter and sports news site The Athletic.
The company now has more than a million customers who choose the all-access offerings and pay about 50% more than regular subscribers, Chief Executive Meredith Kopit Levien said.
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The Times added 180,000 subscribers alone in the third quarter and said digital subscription revenue would increase 30% to 33% in the current quarter.
The company, a flagship newspaper struggling to secure advertising dollars amid competition from tech giants such as Meta and Google, has this year turned to acquisitions such as the popular Internet game Wordle to boost its digital business.
Still, lower-than-expected quarterly revenue of $547.7 million showed the company wasn’t entirely immune to the sharp decline in ad spending.
The Times’ digital ad revenue rose slightly to $70.3 million in the quarter, but the company warned it expects ad sales to decline in the fourth quarter.
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On an adjusted basis, the New York Times earned 21 cents per share, compared with estimates of 13 cents, according to Refinitiv data. GE cover photo.
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