• by Ray Schultz , August 9, 2023

The New York Times posted total revenue of $590.9 million, a 6.3% increase YoY.

In addition, the Times achieved an operating profit of $92.2 million, up from $76.2 million in Q2 2022. 

At the same time, the Times added 180,000 digital subscribers during the quarter, bringing its total to 9.88 million across both print and digital, the paper reported. And it brought in 780,000 net digital-only subscribers during the 12-month period ending in June. 

More than a third of these consumers subscribe to more than one product, and over half have signed up for the entire package of offers.  

Overall subscription revenue, including both digital and print, jumped by 6.8% to $409.6 million.  

Digital advertising revenue rose by 6.5% YoY to $73.8 million. But print advertising fell by 8.6% to $44 million.

The Times also reports that The Athletic, the sports news website it acquired last year, lost $7.8 million, compared to $12.6 million in Q2 of last year. Revenue for The Athletic totaled $30.4 million, a 55% hike YoY, and ad revenue grew to $5.4 million, more than double Q2 in the prior year.  

Recently, the Times announced it was disbanding its sports desk and replacing it with The Athletic’s coverage, a move that brought criticism from labor leaders. No jobs are to be lost in this change, the Times said.  

The Athletic now has more than 3.6 standalone subscribers.