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The New York Times added 276,000 net new digital news subscriptions in Q4, more than all of 2013 and 2014 combined. Digital-only subscriptions increased 21.9% from Q4 2015.

The truth behind the Trump bump: Times CEO Mark told investors on their quarterly earnings call that the increase was largely due to piqued interest in coverage of Trump after the election, including from international subscribers.

The Times' Chief Revenue Officer Meredith Kopit Levien reminded investors that the revenues from those subscriptions are skewed to reflect discounts that are always offered to new subscribers, and investors should expect to see the average revenue per user (RPU) increase once those subscribers are renewed to standard subscription cost structures.

By the numbers:

  • Average revenue per subscriber in Q4: $13-14 USD
  • $439.7 million in revenue vs. $438 million expected
  • 9.7% drop in advertising revenue vs. 8% expected
  • 6% YOY increase total digital revenue (10.9% YOY increase in digital ad revenue)
  • 20.4% YOY decline in print advertising revenue

Despite heavy print declines, The New York Times' yearly digital revenue and circulation continued to increase in 2016, largely due to piqued interest in election coverage during the second half of Q4.

The Times also announced Thursday a 20.4% print advertising revenue drop in 2016, which largely drove the 9.7 percent drop in total advertising revenue for the year.

What had Mark Thompson Buzzing: Despite YOY revenue losses, Times CEO Mark Thompson proudly announced that the company had surpassed three million paid subscriptions (print and digital) as of Thursday. "This is an important moment for us."

For investors: The Times announced adjusted diluted earnings per share at $.30 for Q4 2016 compared with $.37 in Q4 2015. Operating profit decreased to $55.6 million in Q4 2016 from $87.7 million in Q4 2015, largely due to lower print advertising revenues and higher operational costs.

What caught our attention: The company also announced they will be spending $50 million in expenditures to reconfigure their office space as they downsize, and some employees will have to temporarily relocate to offices in Midtown. The Times announced last year that they would be vacating at least eight floors in their iconic midtown space to drive down expenditures.

Go deeper

Updated 13 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Education: Schools face an uphill battle to reopen during the pandemic.
  3. Politics: Biden unveils "wartime" COVID strategyBiden's COVID-19 bubble.
  4. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  5. World: Hong Kong puts tens of thousands on lockdown as cases surge — Pfizer to supply 40 million vaccine doses to lower-income countries.
  6. Sports: 2021 Tokyo Olympics hang in the balance.
  7. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.
Bryan Walsh, author of Future
3 hours ago - Health

Schools face an uphill battle to reopen during the pandemic

Illustration: Aïda Amer/Axios

President Biden's plan to accelerate the reopening of K-8 schools faces major challenges from a still out-of-control pandemic and more contagious coronavirus variants.

Why it matters: The longer American kids miss in-person schooling, the further they fall behind. But the uncertain state of the science on the role young children play in the pandemic continues to complicate efforts to reopen schools.

Focus group: Former Trump voters say he should never hold office again

Illustration: Sarah Grillo/Axios

"Relief" is the top emotion some swing voters who used to support Donald Trump say they felt as they watched President Biden's swearing-in, followed by "hope."

Why it matters: For voters on the bubble between parties, this moment is less about excitement for Biden or liberal politics than exhaustion and disgust with Trump and a craving for national healing. Most said Trump should be prohibited from ever holding office again.