Tags: Donald Trump | new york times | ceo | trump | subscription | growth

NYT CEO Credits Trump for Subscription Growth

Image: NYT CEO Credits Trump for Subscription Growth
(AP)

By    |   Wednesday, 03 May 2017 04:02 PM

The New York Times' chief executive thanked President Donald Trump on Wednesday for his newspaper's recent jump in digital subscriptions.

"We absolutely believe the extraordinarily intense news cycle has been a very significant factor ... and it's the single most important factor in the scale of the bump we've seen in recent quarters," Mark Thompson, Times CEO, said in a conference call with analysts, according to the Hollywood Reporter.

Thanks to roughly 600,000 new digital subscriptions in the past six months, the paper's stock leapt about 12 percent, but Thompson reassured the analysts that they are "confident that, even after the intensity of the current news environment subsides, this underlying (sub growth) acceleration will continue."

In the latest quarter the Times added "an astonishing 308,000 net digital news subscriptions, making Q1 the single best quarter for subscriber growth in our history," Thompson added, according to CNN, bringing the total number up to 2.2 million.

Despite the high number of subscribers, and an 18.9 percent increase in digital ad revenue, print continues to be more profitable.

"Print advertising remained tough," Thompson said. "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."

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The New York Times' chief executive thanked President Donald Trump on Wednesday for his newspaper's recent jump in digital subscriptions.
new york times, ceo, trump, subscription, growth
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2017-02-03
Wednesday, 03 May 2017 04:02 PM
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