New York Times adds 180K digital subscribers
A sign for The New York Times hangs above the entrance to its building, Thursday, May 6, 2021 in New York.
The New York Times Company said it added 180,000 digital subscribers during the third quarter of 2022.
The updated subscription figures came as part of the company’s quarterly earnings report, which showed the Times now has 9.3 million total subscribers, who the outlet reported have 10.7 million paid subscriptions across print and digital products the company offers.
Meredith Kopit Levien, president and chief executive officer of The New York Times Company, said the growth is emboldening company executives as they pursue a strategy of bundling the outlet’s various offerings.
“Our third-quarter results, including the 180,000 net digital-only subscriber additions, support our confidence in our strategy, and reinforce our conviction in the long-term opportunity for The New York Times Company,” Kopit Levien said in a statement.
The Times remains on pace for its stated goal of attaining 15 million subscribers by 2027, the company said.
The publication of the Times’s updated subscriber figures comes near the end of a year during which the Times has worked to grow its business and brand through acquisitions. In January, the Times purchased sports news outlet The Athletic for $550 million.
Financial pressure has been growing on national media organizations in recent months, as nationwide inflation rates rise and fears of a potential recession mount.
“Even in an uncertain macroeconomic environment, it’s clear The Times has a powerful, multi-revenue stream model with great unit economics and we’re aggressively chasing the tailwinds that will best position us to grow revenue and profit,” Kopit Levien said.