The New York Times Company reported a strong second quarter in 2024, with significant growth in digital-only subscribers, increased digital ARPU, and higher digital advertising revenues. The company's operating profit also saw a substantial increase, driven by growth in digital subscriptions.
Added approximately 300,000 net digital-only subscribers compared to Q1 2024.
Total digital-only ARPU increased 2.1 percent year-over-year to $9.34.
Digital subscription revenues increased 12.9 percent year-over-year.
Digital advertising revenues increased 7.8 percent year-over-year.
The New York Times Company provided guidance for the third quarter of 2024, with expectations for revenue and adjusted operating costs compared to the third quarter of 2023.
Visualization of income flow from segment revenue to net income