The New York Times saw its digital subscription revenue exceed $1 billion last year, with paper subscribers dropping to 660000
suisuiblue
发表于 2024-2-9 17:00:58
1257
0
0
Due to advertising revenue not meeting market expectations in the fourth quarter, the stock price of The New York Times fell more than 10% during the day of its financial report release.
Prior to trading on February 7th local time, The New York Times (Nasdaq: NYT) released its fourth quarter results for the fiscal year ended December 31, 2023, with revenue of $676.2 million, an increase of 1.3% from the same period last year, slightly lower than the market's expected $678.5 million; The diluted net income per share (EPS) under non GAAP is $0.70. The New York Times achieved a total revenue of $2.426 billion in 2023, a year-on-year increase of 5.1%. Digital subscription revenue reached $1.099 billion, breaking the $1 billion mark for the first time.
The New York Times predicts that in the next fiscal quarter, the company's digital subscription revenue will increase by between 11% and 14% year-on-year, and total subscription revenue will increase by between 7% and 9% year-on-year.
New York Times Performance Overview. Source: New York Times Financial Report
In the fourth quarter, although digital subscription revenue increased by 7.2% year-on-year to $288.7 million, the New York Times' total advertising revenue decreased by 8.4% to $164.1 million in the highly anticipated advertising revenue. Among them, digital advertising sales decreased by 3.7% to $107.7 million in the quarter, compared to $111.9 million in the same period last year; Print advertising sales decreased by 16.2%.
William Bardeen, Chief Financial Officer of The New York Times, stated in a conference call that the company's advertising market is expected to continue to face uncertainty, particularly in the decline in print advertising sales, and that "advertising and partnership revenue will be affected seasonally, with growth concentrated in the second half of the year.".
"Our digital product performance, including podcasts, has been influenced by market personnel avoiding some hard news topics, such as conflicts in the Middle East," said Meredith Kopit Levien, CEO of The New York Times, in a post earnings conference call
The New York Times reported that as of the fourth quarter of 2023, it had approximately 10.36 million paid subscribers, slightly lower than analysts' expectations of 10.37 million; Among them, the number of digital subscription users is about 9.7 million, with an increase of about 300000 in the fourth quarter; The company has set a goal to reach 15 million subscribers by 2027. The number of print media subscribers to The New York Times has dropped to 660000 by the end of 2023.
At a time when news media is experiencing difficulties, the New York Times has become a highlight in the industry by actively promoting digitization and strengthening digital marketing cooperation. In the past year, the stock price of The New York Times has risen by 51%.
On the 7th, the stock price of The New York Times fell by over 10% at one point; On February 8th, the company's stock price closed down 2.71% to $43.74 per share, with a total market value of $7.191 billion.
On December 27, 2023, The New York Times sued OpenAI and Microsoft for copyright infringement, claiming that the defendants were responsible for "illegal copying and use of The New York Times' unique and valuable works" and related "legal and actual losses worth billions of dollars", and demanded that the two companies destroy any chatbot models and training data that use The New York Times copyright materials.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- The New York Times sues Microsoft and OpenAI for infringement: unauthorized use of reports to train large models costs billions of dollars
- Large US banks experienced a collective decline in profits in the fourth quarter of last year. Citigroup plans to lay off 20000 employees significantly
- Three senior executives are reported to have left Citigroup's stock division. The bank previously announced 20000 layoffs
- Tesla: As of the end of 2023, the total number of global employees exceeded 140000
- China's assets are soaring! Buffett reduces his holdings of 10 million shares of Apple stock. Apple closed lower! Bitcoin has risen by over 4%. What is the situation with 40000 cryptocurrencies sold out across the entire network?
- JD Logistics launches recruitment of 10000 employees in the first half of the year, aiming to attract 20000 new employees. Priority is given to direct logistics experience
- Six insurances and one fund have a "23 times" year-end bonus! JD Logistics has launched a large-scale recruitment campaign: approximately 20000 people will be recruited in the first half of 2024!
- Tesla's layoffs involve the sales department in the Chinese market, which is a severely affected area
- Tesla has laid off over 14% of its workforce this year, with the total number of employees dropping to 121000
- Intel's US stock fell more than 20% in pre-market trading, will lay off 15000 employees and suspend dividends
-
每经AI快讯,据亿航智能官微消息,公司EH216-S无人驾驶电动垂直起降航空器(eVTOL)获得巴西国家民航局颁发的试验飞行许可证书,并计划在巴西进行测试和试飞。关于EH216-S无人驾驶eVTOL在巴西的认证,中国民航局 ...
- 潇湘才子
- 13 小时前
- 支持
- 反对
- 回复
- 收藏
-
今年7月,美国三大海外“债主”所持美国国债齐刷刷缩水,其中日本美债持仓已降至去年10月以来最低。 根据美国财政部当地时间9月18日公布的国际资本流动报告(TIC),2024年7月,美国前三大海外“债主”日本 ...
- 520hacker
- 前天 20:44
- 支持
- 反对
- 回复
- 收藏
-
上证报中国证券网讯(记者俞立严)9月19日,蔚来全新品牌乐道的首款车型——乐道L60正式上市。新车定位家庭智能电动SUV,在采用BaaS电池租用服务后,L60的售价可低至14.99万元,电池租用月费最低为599元。乐道L6 ...
- anhao007
- 昨天 11:03
- 支持
- 反对
- 回复
- 收藏
-
每经记者袁园 日前,国务院印发的《关于加强监管防范风险推动保险业高质量发展的若干意见》提出,以新能源汽车商业保险为重点,深化车险综合改革。 “车险综改”从2015年就已经开始逐步推进了,经过 ...
- moshulong
- 昨天 21:50
- 支持
- 反对
- 回复
- 收藏