The New York Times Company reported a significant increase in digital subscriptions and revenue in the first quarter of 2025, reflecting the success of its multi-product strategy amid broader economic uncertainty.
The company added approximately 250,000 digital-only subscribers during the quarter, bringing its total subscriber count to nearly 11.7 million, including about 600,000 print subscribers. Nearly six million subscribers now engage with bundled or multiple products offered by the Times, such as its core news, Cooking, Games, Wirecutter, and The Athletic.
Digital-only subscription revenue rose more than 14% compared to the same period last year, reaching $335 million. Overall subscription revenue increased by 8.2%, totaling $464.3 million. Digital advertising revenue also grew by 12.4%, hitting $70.9 million, while total advertising revenue rose 4.2% to $108.1 million. Notably, digital ads now account for more than 65% of the Times’s total ad revenue.
The company’s adjusted operating profit grew by 21.9%, reaching $92.7 million, and total revenue rose 7.1% year-over-year to $636 million. Net profit was $49.6 million, or 30 cents per share, slightly below analysts’ expectations.
The Athletic, acquired in 2022, reported continued improvement. It generated $47.6 million in revenue—up 28% from the prior year—and achieved an adjusted operating profit of $2.9 million, reversing an $8.7 million loss from the same quarter in 2024. Its advertising revenue jumped by over 80%.
The company also noted a 3.6% rise in average revenue per user (ARPU), reaching $9.54, as more users engaged with premium and bundled offerings. According to CEO Meredith Kopit Levien, the Times’s ongoing strategy to diversify products and deepen subscriber engagement is contributing to growth and stability amid uncertain economic and geopolitical conditions.
Looking ahead, the Times expects digital-only subscription revenue to grow 13–16% in the second quarter, with digital advertising projected to rise by a high single-digit percentage. Total advertising revenue is anticipated to remain flat or grow modestly.
The New York Times, the Wall Street Journal, and Business Wire contributed to this report.
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