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Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images

The New York Times on Wednesday said it added 301,000 new digital-only subscribers last quarter, its slowest quarter for digital subscriber growth in over a year.

Yes, but: New subscriber growth was weighted much more heavily this quarter towards non-news products than in any other previous quarter in the company’s history. A record 44% of The Times’ new digital subscribers came from non-core news products, like cooking, games and audio, last quarter.

  • Typically, the percentage of new subscribers from non-news products hovers around 25-35%.

By the numbers: Of The Times’ 301,000 net new digital subscribers added last quarter, 134,000 came from its cooking, games and audio products.

  • Another 167,000 new subscribers were added to its core news products.
  • In total, The Times now has nearly 8 million paid subscribers, which is far ahead of even its closest news competitors — The Washington Post and The Wall Street Journal.

The big picture: Times executives for years have emphasized that The New York Times isn’t just a newspaper, but a lifestyle services company.

  • In the post-Trump news cycle, that focus on lifestyle services has already begun to serve The Times well, offering it a financial cushion when the news cycle is slow.

Bottom line: The Times had a stated goal of reaching 10 million paid subscribers by 2025. Despite a news cycle slowdown, it’s well on its way to meeting that goal ahead of schedule.

Flashback: Trump era pushes New York Times to new heights in 2020

Go deeper

Aug 12, 2021 - Economy & Business

Disney stock spikes on big earnings beat

Photo by Liao Pan/China News Service via Getty Images

Disney's stock was up roughly 4% in after-hours trading after the company posted strong top and bottom line revenue gains.

Why it matters: Investors were bullish heading into Disney's earnings report, given that the company was finally able to open its Disneyland last quarter. The company also debuted two of its biggest blockbusters on its streaming service Disney+ (in conjunction with theater releases), boosting subscriber numbers and beating Wall Street estimates.

31 mins ago - World

Taliban: Executions and strict punishments will return

Taliban fighters in Kabul. Photo: Oliver Weiken/picture alliance via Getty Images

Strict punishments such as hand amputations and executions will return in Afghanistan, one of the Taliban's founders said in an interview with the Associated Press.

Why it matters: Despite attempting to project a new image, the Taliban remain committed to a hard-line, conservative ideology, including harsh ruling tactics.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Investors pour millions into immersive, interactive art experiences

Photo Illustration: Megan Robinson/Axios. Photo: Martin Bureau/AFP via Getty Images

How much would you pay for "a sleek, if pleasantly confusing, package of moods" or "a confusing tangle of disjointed installations" or even "the total erosion of meaning itself"? The answer, according to the current market-clearing price, seems to be about $35.

Why it matters: Investors are pouring hundreds of millions of dollars into ticketed experiences — immersive, interactive museum-like spaces that don't have the d0-not-touch stuffiness of traditional museums.

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