The New York Times is edging closer to its goal of 10 million subscribers by 2025, according to its Q2 earnings call. But while it drew in its lowest quarterly increase in subscriber numbers, there’s a silver lining since its overall subscriber revenue is growing. (Adweek)
The Times added 140,000 subscriptions, including 77,000 for news products and 65,000 for the company’s cooking, games and Audm audio products in the second quarter. Amid an unprecedented news cycle in the second quarter of 2020, the Times reported adding 669,000 net new digital subscriptions, its largest-ever single-quarter increase. (WSJ)
Revenues for subscriptions and advertising were up 15.7 percent year-over-year—the highest rate of subscription growth in more than a decade. The company attributed some of that growth to pricing increases. Advertising growth was up 66.4 percent year-over-year. Those gains are largely attributed to growth compared to the weak advertising market in 2020. (Axios)
If the subscription news was lukewarm, financial results for the second quarter were hot. Both revenue and operating profit were up from a year ago and slightly ahead of the same period in 2019, before the steep ad recession last year brought on by Covid-19. (Poynter)