The New York Times Just Had a Pretty Stellar First Quarter, Thanks to The Wirecutter and 308,000 Net New Digital Subcriptions
- 03 May 2017
The failing New York Times actually had a strong first quarter adding more subscriptions than at any other point in its history (308,000 net new digital subscriptions!). Despite continued declines in print advertising, the company was able to make up enough from digital advertising, subscriptions, and brand-spanking-new affiliate revenue from its Wirecutter/Sweethome acquisition to actually grow revenues overall: They were up 5 percent for the quarter, to $398.8 million.
Unpacking the release and the investor call that followed it a bit:
— The New York Times now has 2.2 million digital-only subscriptions, up 62.2 percent compared to this time last year. It added 308,000 net digital news subscriptions in the quarter, “making Q1 the single best quarter for subscriber growth in our history,” CEO Mark Thompson said in the release. 40,000 people subscribed to the crossword product during the quarter.