The pandemic squeezed advertising for the web as well as print, but subscription growth was the best ever for a quarter.
(5 Aug 2020) Over a three-month period dominated by the coronavirus pandemic and a slowdown in advertising, The New York Times Company for the first time reported quarterly revenue that owed more to digital products than to the print newspaper.
As much of its staff worked remotely, The Times brought in $185.5 million in revenue for digital subscriptions and ads during the second quarter of 2020, the company announced on Wednesday. The number for print revenue was $175.4 million.
The company added 669,000 net new digital subscribers, making the second quarter its biggest ever for subscription growth. The Times has 6.5 million total subscriptions, a figure that includes 5.7 million digital-only subscriptions, putting it on a course to achieve its stated goal of 10 million subscriptions by 2025.
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