Dive Summary:
- The New York Times Company released its third-quarter results Thursday, announcing a net income of $2.28 million, along with increased numbers of paid subscribers to the paper's website, e-reader and other digital editions of both The New York Times and The International Herald Tribune.
- The 11% increase in paid subscribers brought the total for the publications to 566,000.
- Digital advertising at the company, however, was down 2.2%.
From the article:
"... Print advertising at the company’s newspapers, which include The New York Times, The Boston Globe and The International Herald Tribune, shrank 10.9 percent, and digital advertising across the company fell 2.2 percent.
But overall revenue was buoyed by the continued growth of paid subscriptions for the digital editions, helping increase circulation revenue by 7.4 percent, to $234.9 million, from $218.6 million. ..."