The New York Times reaches 10 million subscribers – 11/08/2023 – Market

The New York Times reported this Wednesday (8) that it surpassed 10 million subscribers on its platforms. The company’s goal is to reach 15 million by the end of 2027.

In the third quarter, the New York Times added 210,000 subscribers to its digital version, reaching 9.41 million. The publication still has 670 thousand subscribers to the printed newspaper.

The Times Co., responsible for the publication, brought partners such as news services, recipes, games and the websites Wirecutter (specialist in evaluations) and The Athletic (focused on sports). Around 3.8 million of the 9.41 million in the digital version are subscribers to at least two of the services available.

Meredith Kopit Levien, president and CEO of The Times Co., said the results show the strength of the vehicle. “This helps us on the path to a bigger, more profitable company,” she said.

The company recorded an operating profit of US$89.8 million in the third quarter, an increase of 30.1% compared to the same period last year. Total revenue was US$598.3 million, an increase of 9.3% compared to 2022.

According to reported data, The Athletic, purchased by the company for US$550 million in 2022, had a loss of US$7.9 million in the third quarter. The result was better than in the same period last year, when it presented a deficit of US$ 12.1 million.

The company’s expectation is that the site will present positive results within three years. The acquisition of The Athletic led the New York Times to close the newspaper’s sports desk, with reporters and editors being reassigned to other areas.

For the final quarter of this year, the company said it expects total subscription revenue to increase 8% to 11% year-over-year on an adjusted basis, and digital advertising revenue to increase by single digits.