The New York Times sees decline in digital ad revenue, jump in digital subs

News in brief

The New York Times Company added 180,000 digital-only subscribers in Q2 2022, bringing its total paid subscribers to 9.17 million, the company announced in its earnings report today.

The gain amounts to a 70% increase compared to subscribers added in Q1 2021.

However, The Times generated $69.3m in digital advertising revenue, 2.4% less than Q2 2021. Overall advertising revenues increased by 4.1% year-over-year.

Total revenues amounted to $555.7m, an 11.5% increase, but adjusted operating profit decreased 4.4% as higher revenues were offset by increased costs and losses, namely at recently-acquired sports news website The Athletic.