USA Today’s Digital Revival Is Gaining Steam, But With Plenty of Risk New York Times (NYSE:NYT) reported second-quarter revenue growth across subscriptions, advertising and affiliate licensing, while executives highlighted investments in video, product development and journalism…
central to the company’s long-term strategy. Chief Executive Officer Meredith Kopit Levien said the company added 280,000 net new digital subscribers during the quarter, bringing its total subscriber base to 13.4 million
Digital subscription revenue rose 16%, supported by product expansion across news, sports, cooking and games. – Willing and Abel: Berkshire’s New CEO Makes Huge Portfolio Changes in Q1 “Q2 was a great quarter for The Times,” Kopit Levien said, pointing to audience engagement with its journalism and lifestyle offerings. The company remains on track toward its next subscriber milestone of 15 million, she said. Revenue and Profit Growth Chief Financial Officer Will Bardeen said consolidated revenue increased 11% from the prior-year period, while adjusted operating profit, or AOP, increased 16% to approximately $155 million.
Adjusted diluted earnings per share rose 19% year over year to $0.69. – Digital-only subscription revenue increased 16.4% to $408 million. – Total subscription revenue rose 11.7% to approximately $538 million. – Total advertising revenue increased 11.3% to $149 million. – Digital advertising revenue climbed 20.7% to $114 million. – Affiliate, licensing and other revenue increased about 7% to $75.5 million. – How Berkshire’s New York Times Bet Looks Today Bardeen said digital-only subscribers were up 13.3% year over year at the end of the quarter, while digital-only average revenue per user increased 3.1%. He attributed the ARPU growth to several factors, including the benefit of a digital bundle price increase implemented in the first quarter for a cohort of tenured subscribers, as well as retention and pricing performance as subscribers moved off…