S&P 500   3,285.32 (+0.13%)
DOW   27,077.37 (-0.26%)
QQQ   267.84 (+0.12%)
AAPL   109.76 (-0.29%)
MSFT   203.22 (+0.34%)
FB   252.71 (+1.84%)
GOOGL   1,439.89 (+0.68%)
AMZN   3,037.08 (+2.59%)
NVDA   490.40 (-2.06%)
TSLA   420.40 (-6.45%)
BABA   271.18 (-0.96%)
CGC   15.76 (+0.13%)
GE   6.23 (-1.89%)
MU   48.99 (-0.33%)
AMD   76.03 (-2.45%)
T   28.52 (-0.38%)
F   6.82 (-0.73%)
ACB   6.83 (+8.07%)
GILD   63.44 (-1.20%)
NFLX   482.71 (-0.95%)
DIS   126.21 (+0.64%)
BAC   24.02 (-1.84%)
BA   155.15 (-0.77%)
S&P 500   3,285.32 (+0.13%)
DOW   27,077.37 (-0.26%)
QQQ   267.84 (+0.12%)
AAPL   109.76 (-0.29%)
MSFT   203.22 (+0.34%)
FB   252.71 (+1.84%)
GOOGL   1,439.89 (+0.68%)
AMZN   3,037.08 (+2.59%)
NVDA   490.40 (-2.06%)
TSLA   420.40 (-6.45%)
BABA   271.18 (-0.96%)
CGC   15.76 (+0.13%)
GE   6.23 (-1.89%)
MU   48.99 (-0.33%)
AMD   76.03 (-2.45%)
T   28.52 (-0.38%)
F   6.82 (-0.73%)
ACB   6.83 (+8.07%)
GILD   63.44 (-1.20%)
NFLX   482.71 (-0.95%)
DIS   126.21 (+0.64%)
BAC   24.02 (-1.84%)
BA   155.15 (-0.77%)
S&P 500   3,285.32 (+0.13%)
DOW   27,077.37 (-0.26%)
QQQ   267.84 (+0.12%)
AAPL   109.76 (-0.29%)
MSFT   203.22 (+0.34%)
FB   252.71 (+1.84%)
GOOGL   1,439.89 (+0.68%)
AMZN   3,037.08 (+2.59%)
NVDA   490.40 (-2.06%)
TSLA   420.40 (-6.45%)
BABA   271.18 (-0.96%)
CGC   15.76 (+0.13%)
GE   6.23 (-1.89%)
MU   48.99 (-0.33%)
AMD   76.03 (-2.45%)
T   28.52 (-0.38%)
F   6.82 (-0.73%)
ACB   6.83 (+8.07%)
GILD   63.44 (-1.20%)
NFLX   482.71 (-0.95%)
DIS   126.21 (+0.64%)
BAC   24.02 (-1.84%)
BA   155.15 (-0.77%)
S&P 500   3,285.32 (+0.13%)
DOW   27,077.37 (-0.26%)
QQQ   267.84 (+0.12%)
AAPL   109.76 (-0.29%)
MSFT   203.22 (+0.34%)
FB   252.71 (+1.84%)
GOOGL   1,439.89 (+0.68%)
AMZN   3,037.08 (+2.59%)
NVDA   490.40 (-2.06%)
TSLA   420.40 (-6.45%)
BABA   271.18 (-0.96%)
CGC   15.76 (+0.13%)
GE   6.23 (-1.89%)
MU   48.99 (-0.33%)
AMD   76.03 (-2.45%)
T   28.52 (-0.38%)
F   6.82 (-0.73%)
ACB   6.83 (+8.07%)
GILD   63.44 (-1.20%)
NFLX   482.71 (-0.95%)
DIS   126.21 (+0.64%)
BAC   24.02 (-1.84%)
BA   155.15 (-0.77%)
Log in

NYTimes wins new digital subscribers as ad revenue craters

Wednesday, August 5, 2020 | Tali Arbel, AP Technology Writer


This Oct. 10, 2012, file photo shows the New York Times logo on the company's building in New York. The New York Times Co.'s digital transformation continued during the second quarter of 2020, with its online subscription and ad revenue now exceeding its print revenue, even as the economic aftershocks of the coronavirus pandemic slammed its ad sales. (AP Photo/Richard Drew, File)

The New York Times Co.'s digital transformation continued during the second quarter, with its online subscription and ad revenue now exceeding its print revenue, even as the economic aftershocks of the coronavirus pandemic slammed its ad sales.

The company said it was its best quarter ever for new digital subscriptions, with 669,000 new subscribers to its news, cooking and puzzle apps.

It now has 5.7 million digital subscribers and 6.5 million total. It has a goal of 10 million subscribers by 2025.

The Times has successfully built a digital subscription model, but a chasm has emerged between it and local news publishers whose struggles the pandemic has exacerbated. Many news organizations — even digital-only ones without a print newspaper history — have cut pay, furloughed or laid off thousands of workers or even shut down as advertising craters.

It's expanding its business into audio, buying the company behind the popular Serial podcast in July, and in TV and film. For example, film studio Lionsgate, Oprah Winfrey and New York Times journalist Nikole Hannah-Jones are partnering to adapt The Times' “1619 Project,” which dealt with the legacy of slavery and racism, for film and TV.

Overall, The Times' net income fell 6% to $23.7 million, or 14 cents per share, in the April-June quarter.

Revenue fell 7.5% to $403.8 million, with digital subscriptions and ads pulling in more for the first time than print: $185.5 million for digital versus $175.4 million from print. There are other business lines as well, such as licensing fees from Facebook and and an e-commerce business from its Wirecutter reviews site that is counted separately.

Ad revenue cratered 44% to $67.8 million, while subscription revenue rose 8.4% to $293.2 million.

The company expects ad revenues in the current quarter to continue shrinking, dropping 35 to 40% from last year, while subscription revenues grow 10%.

The company had said it would cut jobs, but not newsroom positions, because of the pandemic. In the second quarter, severance costs rose because of job reductions, primarily in the advertising department.

Companies Mentioned in This Article

CompanyBeat the Market™ RankCurrent PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
New York Times (NYT)1.5$42.24+0.0%0.57%49.69Hold$38.90
Compare These Stocks  Add These Stocks to My Watchlist 

10 Best Tech Stocks to Buy After the Market’s Historic Sell-Off

Technology stocks are among the most volatile in the market. The allure of big gains comes with the risk of sharp downturns. When the market is trending upwards, these stocks have a tendency to lead the way. Conversely, when the market is selling off, tech stocks post some of the largest losses. And in the coronavirus crash tech stocks took their usual beating.

But an interesting dynamic is happening. As stocks are trying to stage a comeback, many tech stocks are being left behind. Many of the leading tech stocks trade on the NASDAQ exchange. However, as the Dow Jones Industrial Average (DJIA) and S&P 500 posted gains on March 25, the NASDAQ stayed down.

And that’s an opportunity for investors who know where to look. We’ve put together this presentation to give you ten technology stocks that look to be solid bets no matter which way the market moves. Some of the stocks you’ll see are companies that have a business model that is perfectly suited for today’s social distancing environment.

View the "10 Best Tech Stocks to Buy After the Market’s Historic Sell-Off".

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.