NYT Hits Goal of 10 Million Subscriptions, Closes on The Athletic (original) (raw)

Media|The Times hits its goal of 10 million subscriptions with the addition of The Athletic.

https://www.nytimes.com/2022/02/02/business/media/nyt-earnings-q4-2021.html

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The Times hits its goal of 10 million subscriptions with the addition of The Athletic.

The deal for the sports site, which was completed on Tuesday, helped the company reach that goal a couple of years early.

The New York Times Company set a new goal on Wednesday: at least 15 million subscribers by the end of 2027.Credit...Sasha Maslov for The New York Times

Feb. 2, 2022

The New York Times Company reached its goal of 10 million subscriptions ahead of schedule, the company said Wednesday, aided substantially by the 1.2 million it gained by buying the sports news website The Athletic.

The $550 million deal for The Athletic, which was announced last month, was completed on Tuesday, the company said.

In the final three months of 2021, before the Athletic acquisition, The Times added 375,000 digital subscriptions, the company said in its quarterly earnings report. Those additions included 171,000 to its core news product, meaning the majority were for The Times’s other digital offerings: Games, which includes crosswords; Cooking, its recipes app; Wirecutter, its product-recommendation site; and Audm, which produces audio versions of text-based journalism.

By the last week of December, The Times had almost 8.8 million subscriptions. Nearly 5.9 million were for digital news, more than two million were for the other digital products, and a shade under 800,000 were for the print newspaper.

The Times also announced a new goal on Wednesday: It will aim, it said, to have at least 15 million subscribers by the end of 2027.

One subscriber may account for more than one subscription. The subscriber metric, which will be included in The Times’s next earnings report, reflects the company’s desire to market a bundle of several digital subscriptions as a one-stop shop not only for news but for other diversions and needs. At the end of last year, the company said, The Times had about 7.6 million subscribers paying for the 8.8 million subscriptions.

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