OpenAI, Microsoft and The New York Times.
The New York Time easily surpassed predictions for digital subscriber growth in the second quarter, thanks to its policy of bundling services and strong growth at its sports news website. The Athletic during a summer when the Euros and other events took up most of the time.
The UEFA Champions League and the NBA playoffs brought more people to read The Athletic. As a result, subscription income rose 19.4% to $29.3 million and advertising revenue rose 30% to $7.1 million.
The New York Times’ total advertising income only grew by 1.2% because advertisers put their money into social media sites with more viewers, like TikTok and Reddit.
Over the past few years, the publisher of the New York Times has been putting together podcasts, lifestyle articles, and recipes in one package to reach a bigger audience.
Five analysts polled by Visible Alpha said that the New York Times expected to add 186,900 digital-only users in the second quarter, but instead added about 300,000 subscribers.
LSEG data shows that it made $439.3 million from subscriptions in the second quarter, which was more than the $438.9 million that was expected.
Its adjusted profit was 45 cents per share, which was higher than the 40 cents that had been predicted. Its total sales of $625.1 million was also lower than what had been predicted, which was $625.2 million.
Analysts thought that advertising income would be $120 million, but it was $119.2 million.
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