The New York Times Company's Q4 2020 earnings showed a slight increase in total revenues, driven by subscription revenue growth offsetting declines in advertising and other revenues. Total revenues increased 0.2 percent to $509.4 million. The company achieved a record 2.3 million net new digital-only subscription additions in 2020, with 627,000 total net additions in the fourth quarter.
Total subscriptions reached 7.5 million across digital and print products.
Digital revenue overtook print for the first time.
Digital subscription revenue became the largest revenue stream.
The company ended the quarter with $882 million in cash and marketable securities.
The company expects subscription revenues to increase approximately 15 percent, with digital-only subscription revenue expected to increase approximately 35 percent to 40 percent. Total advertising revenues are expected to decline in the high-teens, with digital advertising revenue expected to increase in the low- to mid-single digits. Other revenues are expected to decrease approximately 10 percent to 15 percent.
Visualization of income flow from segment revenue to net income