(New York) The New York Times has crossed the threshold of one million digital subscribers abroad, announced Wednesday its CEO Meredith Kopit Levien, who still sees room for growth for the daily outside the United States.
In total, the group gained 455,000 digital subscribers between July and September and now has 8.38 million paying subscribers, 90% of which are online only. Over one year, the New York Times has seen its subscriber portfolio grow by 21% and is approaching its target of ten million in 2025.
“We still believe that there are at least a hundred million English-speaking and educated people around the world who are willing to pay for quality journalism,” Meredith Kopit Levien said on the conference call. presentation of the results.
She estimated that about half of this population was outside the United States.
This is for the New York Times to target readers who are, in general, already subscribed to at least one title in their country or region of residence and who are ready to pay for a second subscription, which represents less than 50 million people, estimated the leader.
Among the flow of new subscribers this quarter, 18% are located abroad, said CFO Roland Caputo during the conference call.
In addition, for the first time this year, the New York Times is expected to derive less than half of its subscription revenue from paper.
This development is not particularly due to the decline in revenue from print editions, which has remained relatively stable in recent years thanks to price increases, but rather to the acceleration of revenue from digital.
In the third trimester, the New York Times reported revenue of $ 509 million, up 19% and above expectations. Net profit stood at $ 54 million, up 62%.
Investors sanctioned the title in early trading Wednesday on Wall Street, with the stock losing 5.97% around 9.45 a.m.