From the Liveblog of
Wednesday, August 4, 2021
NY Times reaches 8 million subscribers
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The New York Times says it now has more than eight million subscribers in a quarterly update showing improving revenues and profits.
Profits doubled to $54 million and revenues rose 23 percent to $498 million, the media group says in its second-quarter earnings report.
The Times has been among the rare legacy newspaper firms to maintain growth as readers turn to digital news, and has been focusing on online subscriptions for its news and related products.
“We now have more than eight million paid subscriptions across our digital and print products — a testament to the success of our strategy, the strength of the market for paid digital journalism, and our unique opportunity to meet that demand,” says Meredith Kopit Levien, president and chief executive officer.
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