Arab Today, arab today new york times profit down digital subscriptions up
Last Updated : GMT 21:42:29
Arab Today, arab today
Arab Today, arab today

New York Times profit down, digital subscriptions up

Arab Today, arab today

Arab Today, arab today New York Times profit down, digital subscriptions up

Headquarters building in New York City
New York - AFP

 The New York Times Co. on Tuesday reported a sharp drop in profits as lower advertising revenues offset gains in digital subscriptions.
Net profit for the second quarter fell to $9.2 million from $20.1 million in the same period a year ago.
Total revenues fell slightly to $389 million, with circulation revenues up 1.4 percent and ad revenues down 4.1 percent.
The bottom line was also hurt by higher operating costs, which the company attributed to increased investments in boosting the digital profile of the prestigious newspaper publisher.
Digital advertising revenues were up 3.4 percent but that failed to offset a 6.6 percent drop in print advertising revenue.
"We saw continued growth in digital advertising and circulation revenues during the quarter," said Mark Thompson, president and chief executive officer.
"But (we) know that we still have more work to do to transform our business and deliver long-term sustainable revenue growth for the company."
The Times added 32,000 digital subscribers in the quarter, helped by newly released subscription options including NYT Now, NYT Opinion and Times Premier.
The NYT Now app is designed for mobile device users, and Times Premier is a premium news and information service that adds to the cost of a regular subscription.
"We're encouraged by the reaction of users to the products, especially the high consumer satisfaction levels we're seeing with the NYT Now app," said Thompson, the former BBC chief who became president and chief executive in late 2012.
"But, while we expected the portfolio to take time to build, we want to accelerate the rate of growth in subscription sales, so over the coming months, we will refine some of the offers and the way we market the portfolio to accomplish this."
Like other media firms, the Times is shifting its focus from print to digital as it strives to adapt to a decline in readership and competition from other sources of news online.
Thompson told a conference call that "we continue to keep a good grip on core costs even though investments in our latest round of products and services meant the profits for the quarter were down year-over-year."
He added, "We believe however that investment spending is essential to secure long-term, sustainable growth for the company."
Shares in the New York Times Co. fell more than eight percent to $12.89 on the weaker-than-expected results.
Ken Doctor, a media analyst with Outsell, said the revenue drop put a damper on the results.
"The 0.6 percent downturn in revenues is a minor, mostly psychological setback. It does, though, point to a big problem for all dailies -- the great decline in print advertising continues to swamp much of the other progress news companies are making," Doctor said in a blog post.
"It's that awful 6.6 percent print decline that's the Times' big issue. If the Times, and others, can moderate losses, then they have a fighting chance to transform the business to digital."

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today new york times profit down digital subscriptions up Arab Today, arab today new york times profit down digital subscriptions up

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today new york times profit down digital subscriptions up Arab Today, arab today new york times profit down digital subscriptions up

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday