NY Times Approaches One Million Digital Subscribers

The milestone is officially within reach.

The New York Times is closing in on a digital milestone: The one million subscriber mark. In its first quarter earnings report, the Times announced it now has roughly 957,000 digital subscribers, an increase of 20 percent compared to the first quarter of 2014.

The first quarter of this year was the Times’ strongest quarter for digital subscriptions since 4Q of 2012. Along with that healthy 20 percent bump in subscribers came $46 million of revenue, good for a 14 percent increase compared to 1Q of 2014.

Now that we’ve brightened your day with the good news, we unfortunately have to darken it with the bad news. The Times posted a net loss of $14 million, due to pension payouts and a 11 percent drop in print advertising dollars.

Hey, this is the newspaper business we’re talking about here. You had to know it wouldn’t be all sunshine and rainbows.