Feb 8, 2018

NYT rakes in more than $1 billion in subscription revenue

Photo: Robert Nickelsberg / Getty Images

The New York Times brought in $1.7 billion in total revenue in 2017 — an 8% increase from 2016 — due to substantial growth in subscriptions, which now account for 60% of its revenue, the company announced.

Why it matters: With a drop in demand for physical newspapers, easy access to free news online, and the high costs of running a large media company, it's difficult for news agencies to be profitable.

  • 157,000 digital-only subscriptions were added in the fourth quarter, with subscription revenue rising 19%.
  • Total revenue increased 10% in the fourth quarter to $484 million.
  • Adjusted operating profit rose to $108 million for the quarter, despite operating profit dropping from $56 million to $23 million.
  • Digital-only subscription revenue increased 46% for the year and digital advertising revenue increased 14%.
“We’re pleased with the continued rate of growth and particularly pleased to be seeing strong retention from the large group of new subscribers who came to The Times late last year."
— Mark Thompson, NYT's chief executive

Go deeper

Tech can't remember what to do in a down market

Illustration: Rebecca Zisser/Axios

Wall Street's two-day-old coronavirus crash is a wakeup alarm for Silicon Valley.

The big picture: Tech has been booming for so long the industry barely remembers what a down market feels like — and most companies are ill-prepared for one.

Brace yourself for a coronavirus outbreak

Illustration: Aïda Amer/Axios

Public-health officials’ warnings about the coronavirus are sounding increasingly urgent, with one top CDC official asking the public yesterday "to prepare for the expectation that this might be bad."

Reality check: Other administration officials, including President Trump himself, were more subdued in their assessments. But underneath those tonal differences, the reality of the coronavirus is the same: It spreads quickly, and has already spread to many countries, making it likely to start spreading here, too.

Exclusive: Pro-Trump group plans post-Super Tuesday blitz on Democrats

Democratic presidential hopefuls take the debate stage in South Carolina. Photo: Logan Cyrus/AFP via Getty Images

Pro-Trump super PAC America First Action is preparing to unleash a series of targeted, swing-state attacks on the Democrats most likely to face President Trump after Super Tuesday, people familiar with the group's plans tell me in an exclusive preview of its strategy.

The state of play: The group has been tracking favorable/unfavorable ratings in Florida, Georgia, Michigan, North Carolina, Ohio and Pennsylvania for 2020 candidates Joe Biden, Bernie Sanders, Elizabeth Warren, Pete Buttigieg and Michael Bloomberg — under the theory that if Trump wins each of these six states he would win re-election.