Thursday, February 2, 2017

NY Times’ Profit Hit by Print Ad Decline

Precipitous declines in print advertising rocked the newspaper industry last year. And while The New York Times Company recorded significant growth in subscriptions and promising increases in digital advertising, it nevertheless has not avoided the inevitable.

According to The NY Times, the company said on Thursday that its print advertising revenue in 2016 fell 16 percent, driving a 9 percent drop in total advertising revenue. For the quarter, print advertising revenue declined 20 percent.

The story on the digital side was positive. Digital advertising revenue rose 6 percent last year, to $209 million. The Times added 514,000 net digital-only subscriptions for its news products during the year, bringing its total to 1.6 million. Buoyed by readers’ intense interest in the presidential election, The Times added 276,000 net digital-only subscriptions to its news products in the last three months of the year.

Including print and crossword product subscriptions, The Times now has more than three million total paid subscribers.

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