Third quarter data from the New York Times Company put to rest President Donald Trump’s consistent criticism that the newspaper is “failing”: It now has more than three million digital subscribers and more than four million in total.
> The New York Times Company announced on Thursday that it surpassed those milestones during the third quarter of 2018, when the number of its digital subscribers showed a net increase of roughly 203,000.
> That figure represents the highest gain in digital subscribers in a quarter since the so-called Trump bump in the fourth quarter of 2016 and the first quarter of 2017 after the presidential election.
Of those 203,000 new digital subscribers, 143,000 signed on for news and the rest for The Times’ cooking and crossword features, the company said.
> Perhaps more important to shareholders, the company reported that it continued to be profitable. Net income reached $24.9 million, a 23 percent drop from last year when the publisher realized a one-time gain from the sale of a dam owned by a closed paper mill in which the company has a joint venture investment. Operating profits, the company’s preferred measure, rose 30 percent to $41.4 million in the period.
> Revenue from digital subscriptions rose to $101.2 million in the quarter, an 18 percent increase compared with the same period last year. Online advertising was also a bright spot, jumping 17 percent to $57.8 million.