New York Times Passes 11 Million Subscribers

Published On Nov 4, 2024, 7:09 AM

The New York Times reported strong growth in digital subscriptions with an increase of about 260,000 paid subscriptions in the third quarter, reaching over 11 million total subscribers. The company's adjusted operating profit rose 16.1% to $104.2 million, and overall revenue increased by 7% to $640.2 million. The Athletic, which was acquired in 2022, turned a profit for the first time, contributing to the overall financial improvements. Despite a strike by tech workers over pay, the CEO remains optimistic about the Times' portfolio strategy to enhance its resilience and profitability in the changing media landscape.

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The positive trend in digital subscriptions and the profitability of The Athletic suggest that The New York Times Company is effectively capturing digital revenue streams and adapting its business model successfully. The growth in both subscription and advertising revenue indicates a robust financial performance that could lead to increased investor confidence and stock price appreciation.

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