When a key portion of the Q1 stats released today by The New York Times Co. is filtered through the nitty-gritty print metric of “daily,” it works out to 3,422 new and renewed digital subscriptions for each and every January, February and March day. All told, around 2.2 million people were paying to read the Times in digital form at the end of March.
What’s more, that digital-only subscriber base represents a year-to-year increase of 60%, a massive jump mainly attributed to the political campaigning and presidency of Donald Trump. From today’s release:
Mark Thompson, president and chief executive officer of The New York Times Company, said, “These results show the current strength and future potential of our digital strategy not just to reach a large audience, but also to deliver substantial revenue. We added an astonishing 308,000 net digital news subscriptions, making Q1 the single best quarter for subscriber growth in our history.”
Coincidentally, TechCrunch today revealed that Thompson will be taking part in their upcoming Disrupt NY conference, which runs May 15-17. Another encouraging Q1 digital number the executive will be able to reference is the fact that digital advertising revenue rose 18.9 per cent to $49.7 million. It now accounts for around 38 percent of the paper’s ad-revenue total.
At press time, The New York Times Company share price was up $1.75