NY Times's digital advertising revenue rose 19% in Q1 to $50m
The New York Times Company has announced 5% growth in total revenues to $399m in the quarter to March 2017 despite the fact that print ad revenue fell by 18%. Digital advertising revenue rose 19% in Q1 to $50m representing 38% of total ad revenues versus 30% a year ago and the newspaper had 308,000 digital-only subscriptions, which is a record high. Overall profit increased slightly to $29m and the company predicts a slowing in Q2 due to a weakening of the 'Trump bump', a positive effect brought about by the Presidents attacks on the publication.
Over all, the company reported total revenue of $399 million for the quarter, up 5 percent compared with the first quarter of 2016. Its net income was about $13 million, compared with a net loss of roughly $14 million in the same period a year ago.

“Print advertising remained tough,” Mark Thompson, the chief executive of The Times, said during an earnings call on Wednesday. “But it is a testimony to just how far our business has already transitioned towards digital that this steep decline did not stop us from growing our total revenue significantly in the quarter.”

He added, “We are now in rapid transition from a celebrated past as a great American newspaper to a future of even greater potential as a subscription-first, mobile-first news provider for thoughtful audiences everywhere.”

He attributed the strong growth in digital advertising revenue largely to the company’s focus on mobile, branded content and marketing and creative services.

Still, these are difficult times for all print publishers. Dean Baquet, the executive editor of The Times, has repeatedly said the newsroom will have to be smaller, and employees are anxiously awaiting staff reductions that have been looming for months. The company is also in the midst of consolidating its staff onto fewer floors at its Midtown Manhattan headquarters, and signs of construction around the building have heightened the sense of instability.