New York Times beats revenue estimates on strong digital subscriptions

The media company, which gets nearly two-thirds of its revenue from subscriptions, had 7.5 million subscriptions across its digital and print products at the end of the quarter

The New York Times Co reported better-than-expected quarterly revenue on Thursday as digital readership soared in a quarter that was dominated by heavy news coverage around the US elections and the Covid-19 pandemic.
 

The publication's digital subscriptions have consistently risen in recent years as it pumps its digital products with a rich lineup of news, podcasts, crosswords and cooking recipes, seasoned with crisp images and videos.
 

"Our work, which was consumed at historic levels, led to a year of strong business results, includinga record 2.3 million net new digital-only subscription additions," said Meredith Kopit Levien, chief executive officer of the