New York Times: Investing In The Long Term
Review of Q2 2020 Earnings
In 2015, The New York Times declared itself a subscription company. It was going to prioritize getting support directly from readers. In 2019 they firmed up their goal: 10 million subscribers across all products by 2025.
On Wednesday, they showed a lot of progress towards that goal when they released their 2020 Q2 earnings report. The big news of the day was their continued digital subscriber growth. From the end of 2019 to the end of Q2 2020, they brought in an additional 1 million “digital news” subscribers and an additional 300k “digital other” (Cooking, Crosswords and audio) subscribers. In total, The New York Times had 6.5 million subscribers at the end of Q2 2020.
