Nevertheless, the publication’s total revenue fell by 44%
For the first time in its history, The New York Times’ revenue from digital activities was higher than from newspaper sales, MediaPost reported. In the second quarter of 2020, the media received $ 185.5 million from online readers, and earned $175 million in print.
The New York Times reported that the second quarter was the most successful in the history of the publication because of subscribers. In April-June, 669,000 new users subscribed to the media. MediaPost writes that the publication received such a boost not only because of the pandemic, but also because of protests against police brutality and the election campaign in the United States.
The New York Times now has about 6.5 million subscribers, of whom 5.7 million pay for online content. The publication has set itself the goal of reaching 10 million in five years.
Despite good results online, The New York Times felt the impact of the pandemic: revenue from digital advertising fell by 32%, and from print — by 55%. The company’s total revenue fell 44% to $67.8 million.