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

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Updated 10 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 20,004,254 — Total deaths: 733,929 — Total recoveries — 12,209,226Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 5,088,516 — Total deaths: 163,400 — Total recoveries: 1,670,755 — Total tests: 62,513,174Map.
  3. Politics: Trump claims he would have not called for Obama to resign over 160,000 virus deathsHouse will not hold votes until Sept. 14 unless stimulus deal is reached.
  4. Business: Richer Americans are more comfortable eating out.
  5. Public health: 5 states set single-day coronavirus case records last week — A dual coronavirus and flu threat is set to deliver a winter from hell.
  6. Sports: The cost of kids losing gym class — College football is on the brink.
  7. World: Europe's CDC recommends new restrictions amid "true resurgence in cases."

AOC to speak at Dem convention

Rep. Alexandria Ocasio-Cortez during an April a press conference in Queens, New York City. Photo: Scott Heins/Getty Images)

Rep. Alexandria Ocasio-Cortez will speak at the Democratic convention next week ahead of Sen. Bernie Sanders' appearance on the Tuesday night, CNN first reported and Axios has confirmed

Why it matters: Her involvement is a strategic decision to energize young progressives without tying former Vice President Joe Biden too closely or directly with her agenda.

1 hour ago - World

Protests in Belarus turn deadly following sham election

An arrest today in Minsk. Photo: Natalia Fedosenko/TASS via Getty

Protesters and security forces are clashing across Belarus tonight, with at least one person dead, hundreds injured and thousands arrested.

Why it matters: Sunday’s rigged presidential elections have yielded political uncertainty unlike any seen in Aleksander Lukashenko’s 26-year tenure. After claiming an implausible 80% of the vote, Lukashenko is using every tool in the authoritarian arsenal to maintain his grip on power.