The New York Times’ investment in digital is finally paying off. The company’s ad revenue for 2014 was flat compared to 2013; thanks in large part to sponsored content, growth in digital ads, and an ever-increasing digital subscriber base.
In an announcement, Times CEO Mark Thompson said the company now has 910,000 digital subscribers. That’s up 150,000 since 2013. It also puts the Times on track to hit one million paid digital subscribers by next year. That’s impressive.
Profit at the Times dropped — mainly due to severance costs and other digital investments — but the overall picture was positive. Thompson referred to the growth in digital ad revenue as “the most encouraging year-over-year trend since 2005.”