An 11 percent decline in print advertising and a pension settlement caused the New York Times Co. to operate at a $14.3 million loss in the first quarter, the company reported today.
But the company pitched the period as “a solid start” to the year in light of strong results in both digital subscriptions and digital advertising. The company added 47,000 more paid digital subscriptions bringing its total to 957,000. That is the biggest quarterly increase in two years, and executives said they expect to add another 30,000 in the second quarter.
The bigger subscriber base translates to a digital circulation revenue increase of 14.4 percent compared to the same period in 2014. Digital advertising grew 10.7 percent year to year and now accounts for 28 percent of all company advertising. Read more