'New York Times' gains more than 100,000 paid digital subscribers

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New York—The New York Times Co. said its metered digital pay wall for The New York Times yielded more than 100,000 paid subscribers in its first three weeks. In a press release, the company said, “Early indicators are encouraging.”

The company reported that its operating profit fell to $31.1 million in the first quarter compared to $52.7 million in the year-earlier period. Revenues decreased 3.6% to $566.5 million in the quarter, down from $587.9 million. The company said its advertising revenue fell 4.4%, while digital ad revenue increased 4.5% but print ad revenue dropped 7.5%.

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