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July 24 2011

16:06

"Me too" - New York Times paywall is out of the gate fast 281,000 paying digital subs in 3 months

New York Times | Business Wire :: The New York Times Company (NYSE: NYT) had an operating loss of $114.1 million in QII-2011 compared with operating profit of $60.8 million in the same period of 2010. 

[Janet L. Robinson, CEO:] The second quarter was a historic one for our Company, as we successfully launched The New York Times digital subscriptions ("metered paywall") and began to see the early effect on our overall financial performance. The positive consumer response to the digital subscription packages is a strong indication of the value that users place on our high-quality news, analysis and commentary. Our digital model exemplifies our growing ability to capitalize on secular trends that show consumer willingness to pay for content across multiple digital platforms.

Financial Data - Digital. The Times introduced digital subscription packages on NYTimes.com and across other digital platforms in Canada in mid-March and globally at the beginning of the second quarter. Paid digital subscribers to the digital subscription packages totaled approximately 224,000 as of the end of the second quarter. In addition, paid digital subscribers to e-readers and replica editions totaled approximately 57,000, for a total paid digital subscribers of 281,000 as of the end of the second quarter.

In addition to these paid digital subscribers, as of the end of the second quarter of 2011, The Times had approximately 100,000 highly engaged users sponsored by Ford Motor Company's luxury brand, Lincoln, who have free access to NYTimes.com and smartphone apps until the end of the year, and approximately 756,000 home-delivery subscribers with linked digital accounts, who receive free digital access.

In total, The Times had paid and sponsored relationships with over 1 million digital users as of the end of the second quarter of 2011.

... and I'm one of them.

Continue to read phx.corporate-ir.net

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Schweinderl