 |
The New York Times added 180,000 digital subscribers in Q3 and lost 20,000 print subscribers.
The slide in print subscriptions leaves the paper with 740,000 print customers. While that’s an 8.2 percent drop from the 806,000 print subscribers the paper had in last year's quarter, print remains a significant presence on the company’s balance sheet.
The $138.8M in print subscription revenues that the NYT racked up in Q3 still accounted for 36.2 percent of the $382.7M the paper pulled in from subscriptions to all its products.
Almost 90 percent of the print sales were through home delivery. Print also made up 36.4 percent of the NYT’s overall advertising revenue.
On the digital side of the equation, the biggest headwinds the company faced were from costs related to The Athletic, the sports vertical that it acquired in January.
While the paper reported $24.1M in Q3 revenues for The Athletic, its $33.7M in adjusted operating costs resulted in a $9.6M loss.
Overall, however, operating profit for the NYT was up six percent for the quarter and the Times says it is expecting to reach a total adjusted operating profit of $320M to $330 M for the year.
Trump Media and Technology Group Corp. has replaced CEO and former California Congressman Devin Nunes with Kevin McGurn, a seasoned media sales executive.
The Pittsburgh Post-Gazette is being bought by the Venetoulis Institute for Local Journalism, a nonprofit that is the parent organization of the Baltimore Banner... The British Broadcasting Corporation is axing approximately 2,000 jobs, about 10 percent of its work force... Snap, the company behind Snapchat, is also succumbing to layoff fever, announcing plans to lay off 16 percent of its employees, about 1,000 people.
CBS News Radio will go off the air on May 22, part of the axe-swinging managerial plan put into play by CBS editor-in-chief Bari Weiss... The Economist, which was first published in 1843, is changing hands. Canadian billionaire Stephen Smith has agreed to acquire a 26.9 percent stake in the publication from Lady Lynn Forester de Rothschild, her family and family foundation... Nexstar Media Group says it has closed its acquisition of TEGNA, the broadcast, digital media and marketing services company that was formed in 2015, when the Gannett Company split into two publicly traded companies.
USA TODAY brings on Jamie Stockwell as VP of news, effective March 30. Stockwell was most recently deputy managing editor of news for the Washington Post... YouTube expands its likeness detection capabilities to a pilot group of government officials, journalists and political candidates... The AP Fund for Journalism adds 50 news organizations to its local news program, bringing the total number of participating newsrooms to 100. 
Versant Media Group, the NBCUniversal cable TV spin-off, today reported its first financial results as 2025 revenues dipped 5.3 percent to $6.7B and standalone EBITDA dropped 9.1 percent to $2.2B.
