The New York Times is expecting climbing digital revenues for the rest of the year. Today CEO Janet Robinson announced that advertising on the newspaper's iPad app has sold out through the end of the third quarter, and the online paywall is seeing rising subscriber numbers.
The NY Times iPad app has been downloaded 2.3 million times since it was launch in April 2010, and the ad space has sold out even though most content is closed off to non-digital subscribers, paidContent reported.
The paywall, launched in March, now has 224,000 digital subscribers, The Times said this morning. This number includes people being charged an introductory rate of 99 cents for the first four weeks, but does not count the 765,000 people who activated digital access that comes with their home-delivery print subscriptions, according to AdAge.
In addition, 57,000 subscribers pay to receive the publication on other devices, such as the Barnes & Noble Nook and the Amazon Kindle, The Times reported.
“We also continued to post solid year-over-year gains in digital advertising revenues at the News Media Group in the second quarter. In addition, during the quarter the rate of home-delivery circulation declines slowed moderately, as we observed an uptick in new home-delivery orders and a decrease in attrition following the launch as print subscribers of all frequencies receive all digital access at no additional cost,” Robinson said in a statement, according to AdAge.
However, the Times Co. reported overall losses for the second quarter, mainly due to a decline in print ads.
Revenue was down 2.2 percent, to US$576.7 million, on a 4 percent advertising downturn. However, a 2.6 percent increase in online ad revenue helped to ease the pain of a 6.4 percent print ad decline.
Image: Crenk.com
The NY Times iPad app has been downloaded 2.3 million times since it was launch in April 2010, and the ad space has sold out even though most content is closed off to non-digital subscribers, paidContent reported.
The paywall, launched in March, now has 224,000 digital subscribers, The Times said this morning. This number includes people being charged an introductory rate of 99 cents for the first four weeks, but does not count the 765,000 people who activated digital access that comes with their home-delivery print subscriptions, according to AdAge.
In addition, 57,000 subscribers pay to receive the publication on other devices, such as the Barnes & Noble Nook and the Amazon Kindle, The Times reported.
“We also continued to post solid year-over-year gains in digital advertising revenues at the News Media Group in the second quarter. In addition, during the quarter the rate of home-delivery circulation declines slowed moderately, as we observed an uptick in new home-delivery orders and a decrease in attrition following the launch as print subscribers of all frequencies receive all digital access at no additional cost,” Robinson said in a statement, according to AdAge.
However, the Times Co. reported overall losses for the second quarter, mainly due to a decline in print ads.
Revenue was down 2.2 percent, to US$576.7 million, on a 4 percent advertising downturn. However, a 2.6 percent increase in online ad revenue helped to ease the pain of a 6.4 percent print ad decline.
Image: Crenk.com
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