New York Times Reports Gain of 180,000 Digital Subscribers

From a New York Times story by Katie Robertson headlined “New York Times Reports a Gain of 180,000 Digital Subscribers”:

The New York Times Company added about 180,000 net digital-only subscribers in the second quarter of the year but generated less digital advertising revenue.

The Times now has 9.17 million paid subscribers. It has a goal of 15 million by the end of 2027.

The company reported $76 million in adjusted operating profit, 18 percent less than the same quarter last year. It generated total revenue of $555.7 million, an 11.5 percent increase from a year earlier. Digital subscriptions accounted for $238.7 million of that revenue, a 25.5 percent increase.

New York Times Outlines Plan to Have 15 Million Subscribers

From a story on by Sara Fischer headlined “NYT CEO outlines plans to reach 15 million subscribers by 2027”:

The New York Times  said it’s planning to reach 15 million subscribers by the end of 2027, a goal that CEO Meredith Kopit Levien told Axios will help the company become even more profitable in the next three to five years.

Why it matters: While 15 million is a small fraction of the 135 million people globally that the Times believes are willing to pay for a news subscription today, it’s a massive number compared to its peers’ subscriber rosters.