The New York Times Company said on Wednesday that it added 250,000 only digital subscribers in the last quarter, and that the turnover of digital subscription during the period increased by more than 14 percent.
Those results helped to increase the adapted business profit by 21.9 percent higher from a year earlier, to $ 92.7 million in the quarter. The total turnover increased by 7.1 percent to $ 636 million.
At the end of the first quarter, The Times had 11.66 million total subscribers, the company said, including 600,000 print subscribers. The company has a declared goal of 15 million subscribers towards the end of 2027.
Meredith Kopit Levien, the president and chief executive of the Times Company, has worked to diversify the income flows of the company by offering multiple lifestyle products in addition to reporting in a subscription collection.
Almost half of the company subscribers now subscribe to more than one of the products, including the Core News Report, Cooking, Games, the Product Review website Wirecutter and the Sports News Outlet the Athletic. The average turnover per user, an increasingly important statistics for time, rose in the quarter to $ 9.54, an increase of 3.6 percent, partly due to the rise in bundle subscribers.
“Our strategy works, and our company is growing and shows resilience in the midst of current economic and geopolitical uncertainty,” said Mrs. Kopit Levien in a statement.
Digital advertisement changes rose to $ 70.9 million for the first three months of the year, an increase of 12.4 percent compared to $ 63 million in the same quarter the previous year, while the total advertisement turnover increased by 4.2 percent to $ 108.1 million.
The turnover from affiliate referral and licenses, such as that of Wirecutter, rose 3.7 percent compared to the first three months of 2024.
Quarterly business costs were $ 577.3 million, an increase of 5.8 percent compared to $ 545.7 million a year ago.
The athletics, which bought the Times for $ 550 million in 2022, continued to give a modest profit. The adapted business profit for the quarter was $ 2.9 million, an increase in a loss of $ 8.7 million in the same quarter in 2024, while the advertising income increased by 82.5 percent in the quarter, to $ 10.4 million. The total turnover of athletics increased in the first quarter by 27.9 percent to $ 47.6 million.
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