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The New York Times Co. today reported Q3 operating profit rose 30.2 percent to $41.4M on an 8.2 percent revenue boost to $417.4M.
CEO Mark Thompson noted the NYTC added a net 203K digital-only subscriptions to top the 3M mark for the quarter.
“We’re executing on our subscription-first strategy,” he said in a statement, adding that subscription sales accounted for almost two-thirds of the company’s revenues.
Digital advertising perked up 17 percent during the quarter, while overall ad sales rose seven percent. Print advertising revenues dipped 0.7 percent.
Thompson anticipates Q4 total subscription revenues (excluding the impact of an additional week in 2017) to rise in the mid-single digit range.
Digital-only revenues are expected to rise in the mid-teen level.
For the nine-month period, NYTC profit jumped 34.1 percent to $115.5M. Revenues advanced 4.6 percent to $1.2B.
Lauren Skowronski, director of communications at Snap Inc., has been named senior VP-communications at CNBC.
Trust in the news media has continued to decline among Americans, with skepticism especially growing among younger audiences, according to a recent study.
Amazon may be coming to TikTok’s rescue in the nick of time as the app faces an April 5 deadline to cut ties with its Chinese owner or face a ban in the US, according to the New York Times... Vanity Fair editor Radhika Jones is heading out the door at the Condé Nast title she has headed up since 2017... Newspapers have dodged the bullet as regards the proposed tariffs on newsprint—for now.
Financial Times group chief executive John Ridding is stepping down after close to 20 years in the position... MSNBC hires Scott Matthews as SVP of newsgathering, effective March 17, as the network prepares for life after its connection to NBC News... Gallup has released a report showing that two-thirds of Americans either do not trust the media very much (31 percent) or do not trust it all (36 percent). 
Last week, Jeff Bezos just did something rare in today’s media landscape: he embraced common sense.
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