Subscription revenue for The New York Times Company increased 19.2%, due to growth in subscriptions to digital-only products like Cooking and Crosswords in fourth-quarter 2017.
Digital subscription revenue increased by more than $100 million year-over-year, which represented 60% of total revenue for The New York Times Company in 2017.
Mark Thompson, president and CEO of The New York Times Company, stated this “is a clear sign that our subscription-first business model is proving to be an effective way to support our broad journalistic ambitions.”
In the fourth quarter, the company added 99,000 net digital news subscriptions and 157,000 total net digital-only subscriptions, a 41.8% increase compared with the end of the fourth quarter of 2016.
The company had about 2.6 million digital-only subscriptions at the end of the fourth quarter of 2017.
Advertising revenue decreased 1.3% in the period.